Common use of CONSUMER COMPLIANCE PROGRAM Clause in Contracts

CONSUMER COMPLIANCE PROGRAM. (1) Within ninety (90) days, the Board shall adopt a written consumer compliance program designed to ensure that the Bank is operating in compliance with all applicable consumer protection laws, rules and regulations. This program shall include, but not be limited to: (a) a written description of the duties and responsibilities of the compliance officer; (b) adequate internal controls to ensure compliance with consumer protection laws, rules, and regulations; (c) the preparation of a policies and procedures manual covering all consumer protection laws, rules and regulations for use by appropriate Bank personnel in the performance of their duties and responsibilities; (d) periodic updates of the written policies and procedures manual to ensure it remains current; (e) an independent audit program to test for compliance with consumer protection laws, rules and regulations, including procedures and sampling adequate to cover laws, rules, and regulations; (f) procedures to ensure that exceptions noted in the audit reports are corrected and responded to by the appropriate Bank personnel; (g) the education and training of all appropriate Bank personnel in the requirements of all applicable federal and state consumer protection laws, rules and regulations; and (h) periodic reporting of the results of the consumer compliance audit to the Board or a committee thereof. (2) Upon adoption, the Board shall submit a copy of the program required by this Article, and any subsequent amendments or changes to that program, to the Assistant Deputy Comptroller for determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Board shall implement and thereafter ensure the Bank’s adherence to the program.

CONSUMER COMPLIANCE PROGRAM. (1) Within ninety one hundred twenty (90120) daysdays from the date of this Agreement, the Board shall adopt adopt, implement, and thereafter ensure adherence to a written consumer compliance program designed to ensure that the Bank is operating in compliance with all applicable consumer protection laws, rules and regulations. This program shall include, but not be limited to: (a) a. a written description of the duties and responsibilities of the compliance officer; (b) b. adequate internal controls to ensure compliance with consumer protection laws, rules, and regulations; (c) c. the preparation of a policies and procedures manual covering all consumer protection laws, rules and regulations for use by appropriate Bank personnel in the performance of their duties and responsibilities; (d) periodic d. semiannual updates of the written policies and procedures manual to ensure it remains current; (e) e. an independent audit program to test for compliance with consumer protection laws, rules and regulations, including procedures and sampling adequate to cover laws, rules, and regulations; (f) f. procedures to ensure that exceptions noted in the audit reports are corrected and responded to by the appropriate Bank personnel; (g) g. the education and training of all appropriate Bank personnel in the requirements of all applicable federal and state consumer protection laws, rules and regulations; and (h) h. periodic reporting of the results of the consumer compliance audit to the Board or a committee thereof. (2) Upon adoption, the Board shall submit a copy of the program required by this Article, and any subsequent amendments or changes to that program, shall be forwarded to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Board Bank shall implement and thereafter adhere to the consumer compliance program. (3) The Board shall ensure that the Bank’s Bank has processes, personnel, and control systems to ensure implementation of and adherence to the programConsumer Compliance Program developed pursuant to this Article XIV.

CONSUMER COMPLIANCE PROGRAM. (1) Within ninety one-hundred and twenty (90120) daysdays from the date of this Agreement, the Board shall adopt adopt, implement, and thereafter ensure Bank adherence to a written consumer compliance program designed to ensure that the Bank is operating in compliance with all applicable consumer protection laws, rules rules, and regulations. This program shall include, but not be limited to: (a) a written description of the duties and responsibilities of the compliance officer, which shall include the responsibility for monitoring regulatory changes and communicating those changes to appropriate Bank personnel; (b) adequate internal controls to ensure compliance with consumer protection laws, rules, and regulations; (c) the preparation of a policies and procedures manual covering all consumer protection laws, rules and regulations for use by appropriate Bank personnel in the performance of their duties and responsibilities; (d) periodic updates of the written compliance policies and procedures manual to ensure it remains currentcurrent as laws, regulations, and guidance changes, but in no case less than annually; (e) an independent audit program to independently test for and appropriately document findings as to the Bank’s compliance with consumer protection laws, rules and regulations, including procedures and sampling adequate to cover laws, rules, and regulations; (f) procedures to ensure that exceptions noted in the audit reports are corrected and responded to by the appropriate Bank personnel; (g) the education and training of all appropriate Bank personnel personnel, including those who perform audits of the consumer compliance area, in the requirements of all applicable federal and state consumer protection laws, rules and regulations; and (h) periodic reporting of the results of the consumer compliance audit to the Board or a committee thereof. (2) Upon adoption, the Board shall submit a copy of the program required by this Article, and any subsequent amendments or changes to that program, to the Assistant Deputy Comptroller for determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the Board shall implement and thereafter ensure the Bank’s adherence to the program.

CONSUMER COMPLIANCE PROGRAM. (1) Within ninety thirty (9030) days, the Board Bank shall adopt adopt, implement, and thereafter ensure adherence to a written consumer compliance program designed to ensure that the Bank is operating in compliance with all applicable consumer protection laws, rules and regulations. This program shall include, but not be limited to: (a) a written description of the duties and responsibilities of the compliance officer; (b) adequate internal controls to ensure compliance with consumer protection laws, rules, and regulations; (c) review and amendment of the preparation of a bank’s policies and procedures manual covering all consumer protection laws, rules and regulations for use to ensure current application by appropriate Bank personnel in the performance of their duties and responsibilities; (d) periodic semiannual updates of the written policies and procedures manual to ensure it remains current; (e) an independent audit program to test for compliance with consumer protection laws, rules and regulations, including procedures and sampling adequate to cover laws, rules, and regulations; (f) procedures to ensure that exceptions noted in the audit reports are corrected and responded to by the appropriate Bank personnel; (g) the education and training of all appropriate Bank personnel in the requirements of all applicable federal and state consumer protection laws, rules and regulationsregulations applicable to their areas of responsibility; and (h) periodic reporting of the results of the consumer compliance audit to the Board or a committee thereof. (2) Upon adoption, the Board shall submit a copy of the program required by this Article, and any subsequent amendments or changes to that program, shall be forwarded to the Assistant Deputy Comptroller for determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the review. (3) The Board shall implement ensure that the Bank has processes, personnel, and thereafter control systems to ensure the Bank’s implementation of and adherence to the programprogram developed pursuant to this Article.

CONSUMER COMPLIANCE PROGRAM. (1) Within ninety (90) days, the Board Bank shall adopt adopt, implement, and thereafter ensure adherence to a written consumer compliance program designed to ensure that the Bank is operating in compliance with all applicable consumer protection laws, rules and regulations. This program shall include, but not be limited to: (a) a written description of the duties and responsibilities of the compliance officer; (b) adequate internal controls to ensure compliance with consumer protection laws, rules, rules and regulations; (c) review and amendment of the preparation of a Bank’s policies and procedures manual covering all consumer protection laws, rules and regulations for use to ensure current application by appropriate Bank personnel in the performance of their duties and responsibilities; (d) periodic semiannual updates of the written policies and procedures manual to ensure it remains current; (amended during 10/2/01 board meeting to state “develop a review process to ensure policies and procedures remain current”); (e) an independent audit program to test for compliance with consumer protection laws, rules and regulations, including procedures and sampling adequate to cover laws, rules, and regulations; (f) procedures to ensure that exceptions noted in the audit reports are corrected and responded to by the appropriate Bank personnel; (g) the education and training of all appropriate Bank personnel in the requirements of all applicable federal and state consumer protection laws, rules and regulationsregulations applicable to their areas of responsibility; and (h) periodic reporting of the results of the consumer compliance audit to the Board or a committee thereof. (2) Upon adoption, the Board shall submit a copy of the program required by this Article, and any subsequent amendments or changes to that program, shall be forwarded to the Assistant Deputy Comptroller for determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the review. (3) The Board shall implement ensure that the Bank has processes, personnel, and thereafter control systems to ensure the Bank’s implementation of and adherence to the programprogram developed pursuant to this Article.

CONSUMER COMPLIANCE PROGRAM. (1) Within ninety sixty (9060) days, the Board Bank shall adopt adopt, implement, and thereafter ensure adherence to a written consumer compliance program designed to ensure that the Bank is operating in compliance with all applicable consumer protection laws, rules and regulations. This program shall include, but not be limited to: (a) a written description of plan to review and determine compliance with each consumer law and regulation during the duties and responsibilities of the compliance officernext audit cycle; (b) adequate internal controls to ensure compliance with consumer protection laws, rules, and regulations; (c) written description of the duties and responsibilities of the compliance officer; (d) the preparation of a policies and procedures manual covering all consumer protection laws, rules and regulations for use by appropriate Bank personnel in the performance of their duties and responsibilities; (de) periodic semiannual (or more frequently, if needed) updates of the written policies and procedures manual to ensure it remains current; (ef) the assignment of specific laws and regulations to responsible parties throughout the Bank; (g) periodic, transaction-based, business unit self-monitoring practices; (h) an independent audit program to test for compliance with consumer protection laws, rules and regulations, including procedures and sampling adequate to cover laws, rules, and regulations; (fi) procedures to ensure that exceptions noted in the audit reports are corrected and responded to by the appropriate Bank personnel; (gj) the education and training of all appropriate Bank personnel in the requirements of all applicable federal and state consumer protection laws, rules and regulations; ; (k) a director education program, and (hl) periodic reporting of the results of the consumer compliance business-unit self monitoring and audit to the Board or a committee thereof. (2) Upon adoption, the Board shall submit a copy of the program required by this Article, and any subsequent amendments or changes to that program, shall be forwarded to the Assistant Deputy Comptroller for determination of no supervisory objection. Upon receiving a determination of no supervisory objection from the Assistant Deputy Comptroller, the review. (3) The Board shall implement ensure that the Bank has processes, personnel, and thereafter control systems to ensure the Bank’s implementation of and adherence to the programprogram developed pursuant to this Article.