Fair Lending School 2.0
Module 3: Compliance Management System
Your Compliance Management System (CMS) is the foundation of your organization’s entire compliance program. Everything compliance-related that you do ties back to your CMS, and the strength or weakness of your CMS determines your compliance rating during an examination. We will cover the CMS components in more detail. Do not overlook the importance of the information we cover because we will be revisiting your CMS during nearly every fair lending risk we cover.
We realize that not everyone taking this school is a financial institution, so you may not be rated on a formal CMS like we have laid out. That’s okay. It is still a good idea to go through this module, learn the concepts, and build your program around its components. Let’s get started.
Make sure you read through the manual and review the CMS checklist we have provided near the end of the module. We present several questions you should consider when building a strong and successful CMS.