Risk Based Compliance Audit Program: Risk Assessment Checklists and Related Requirements

Identify, rate, and prioritize the areas in which you have risk exposure. This one-of-a-kind resource provides everything you need to minimize your Bank's chances of investigations, litigation and costly penalties.

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Compliance Audit Program


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The regulators expect you to be able to identify and rate the areas in which you have risk exposure. Risk-Based Compliance Audit Program consists of individual audit risk assessment checklists with risk ratings — organized by specific products and services — that you can use to conduct compliance reviews for federal consumer laws and regulations, including security, privacy, electronic banking, disclosures and insurance roles. This manual shows how to improve your institution's efficiency and compliance.

This helpful manual provides:

  • Compliance checklists organized by individual products and services 
  • An audit risk assessment matrix helps you easily access and record your institution's specific level of risk for the various compliance requirements, as they become effective 
  • The assessments allow you to assign an audit risk rating, thus prioritizing your institution's needs and maximizing your resources 
  • A compliance calendar gives you a quick reference for changing requirements

Risk assessment is an essential part of your risk-based compliance audit plan for all of your products, services, and activities. To satisfy the regulators, you need to consistently and constantly weight risks against benefits, and make decisions accordingly.

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Editable Documents

The publication subscription includes downloadable files delivered through the LexisNexis® Store download center. The downloadable files include the following features:

  • The entire publication is provided in a Folio infobase, offering a robust search engine and the ability to jump from one search match to the next through the entire publication. The Table of Contents for the entire publication can be viewed side-by-side with the text. 
  • Editable Microsoft® Word files are included in the Folio infobase and can be downloaded and customized. The Word files are fully formatted and will be updated to reflect changes made in corresponding text sections of the publication. Word files are provided for a variety of documents, including exhibits, checklists, sample policies, sample procedures, sample audits, questionnaires, and model forms. 

This publication includes editable Word files for the following documents:

No.                Title
mx.01            Matrix
1.1                 Deposit Advertisement
1.2                 Retail Non-Deposit Advertisement
1A.1              Postings
2.1                 Initial Deposit Account Disclosure
2.2                 Sweep Account Opening Disclosure
2.3                 Denial of Deposit Account
2.4                 Internet Banking Authentication
3.1                 Deposit Account Restrictions
3.2                 Deposit Account Transactions
3.3                 Deposit Account Periodic Statement
3.4                 Deposit Account Notice of Maturity for Certificates of Deposit
3.5                 Error Resolution: Electronic Fund Transfers
3.6                 Error Resolution: Expedited Recrediting for Substitute Checks
3.7                 Deposit Accounts: Overdraft Protection Plans
3.8                 Annual Sweep Account Disclosure
3.9                 Garnishment of Accounts Containing Federal Benefit Payments
4.1                 Closed-End Loan Advertisements
4.2                 Open-End Loan Advertisements
4.2a               Loan Solicitations Based on Prescreened Lists
4.3                 Early Adjustable Rate Mortgage Disclosure
4.4                 Credit and Charge Card Early Disclosure
4.5                 Early Home Equity Plan Disclosure
4.6                 Mortgage Servicing Disclosure
5.1                 Equal Credit Opportunity Act (ECOA) Standards
5.2                 Open-End Applications Not Resulting in Origination
5.3                 Applications Resulting in Origination of Open-End Loans
5.4                 Closed-End Applications Not Resulting in Origination
5.5a               Applications Resulting in Origination of Closed-End Real Estate Loans
5.5b               Applications Resulting in Origination of Closed-End Loans
5.6                 Initial Open-End Credit Disclosure
5A.1              Insider Lending Restrictions
6.1                 HMDA/LAR
6.1a               National Banks — Fair Housing Home Loan Data System
6.2                 Open-End Loan Account Transactions
6.2a               Credit Card Accounts with Credit Balance
6.2b               Credit Card Accounts with Annual or Renewal Fee
6.2c               Credit Card Accounts with Rate Change
6.2d               Closed or Cancelled Credit Card Accounts
6.2e               Credit Card Account with Issuer-Changed Credit Insurance Provider
6.2f                Other Information Based on Interviews and Related Documentation
6.3                 Periodic Billing Statement for All Open-End Consumer Loan Accounts
6.3a               Periodic Billing Statement for Closed-End Residential Mortgage Loans
6.4                 Variable Rate Subsequent Disclosure
6.4a               Special Rules Applicable to Credit Card Accounts and Open-End Credit Offered to College Students
6.5                 Mortgage Servicing: Error Resolution/Requests for Information
6.5a               Mortgage Servicing: Force-Placed Insurance
6.5b               Mortgage Servicing: Policies, Procedures, and Requirements
6.5c               Mortgage Servicing: Early Intervention Requirements for Certain Borrowers
6.5d               Mortgage Servicing: Continuity of Contact with Borrowers
6.5e               Mortgage Servicing: Loss Mitigation Procedures
6.5f                Mortgage Servicing: Escrow Account Payments
6.6                 Error Resolution: Open-End Credit
6.7                 Error Resolution: Fair Credit Reporting Act
6.8                 Account Servicing: Fair Credit Reporting Act
6.9a               Mortgage Servicing: Mortgage Servicing Transfers
6.9b               Mortgage Servicing: Flood Insurance Renewals
6.10               Mortgage Servicing: PMI Cancellation/Disclosures
6.11               Account Servicing: Reporting Credit History
6.12               Mortgage Servicing: Homeownership Counseling and SCRA Notice
6.13               Account Servicing: Annual Escrow Account Statements
6.13a             Mortgage Servicing: Timely Escrow Payments and Treatment of Escrow Account Balances
6.14               Mortgage Servicing: Foreclosure Management
6.15               Mortgage Servicing: Curing Excess Points/Fees on Qualified Mortgages
6A.1              Servicemembers Civil Relief Act
6B.1              DoD Rules on Consumer Loans to Servicemembers
6C.1              The SAFE Act Policies and Procedures
6C.1              SAFE Act — Initial Registrations
6C.2              SAFE Act — Renewals & Updated Information
6D.1              FIRREA Real Estate Appraisal
6D.2              Real Estate Evaluation
6E.1              Mortgage Loan Compensation Practices
6E.2              Mortgage Loan Steering Practices
7.A                Interim Shell Bank/Ownership Certification
7.0                 BSA Risk-Assessment and Customer Due Diligence
7.1                 BSA Compliance: General Requirements
7.2                 BSA Compliance: Exemptions
7.3                 BSA Compliance: Currency Transaction Reports
7.4                 BSA Compliance: Wire Transfer Recordkeeping
7.5                 BSA Compliance: Sales of Monetary Instruments
7.6                 BSA Compliance: Suspicious Activity Reporting
7.7                 BSA Compliance: OFAC Restrictions
7.8                 BSA Compliance: USA PATRIOT Act
7.8a               BSA Compliance: CIP Compliance Review
7.8b               Certification: "Safe Harbor"
7.9                 Review of New MSB Customer
8.1                 Community Reinvestment Act
9.1                 Record Retention
10.1               Right to Financial Privacy Act
11.1               Privacy Rule
12.1               Security of Customer Information
12.2               Customer Response Program
12A.1            ID Theft: "Red Flags"
12A.2            Checklist 12A.2: Duties of Card Issuers Regarding Changes of Address
12A.3            Duties of Users of Consumer Reports Regarding Address Discrepancies
12A.4            Affiliate Marketing Opt-Out Under FCRA
13.1               Electronic Disclosure
14.1               Insurance Sales Practices
14.2               Insurance Advertisement
14.3               Insurance Sales Disclosures
15.1               General Web Site Disclosure Requirements
15.2               Account Advertising
15.3               Closed-End Loan Advertisements
15.4               Open-End Loan Advertisements
15.5               Loan Applications
15.6               Nondeposit Investment Product (NDIP) Advertisements
15.7               Internet Banking Authentication


Featured Authors

Table of contents

Summary Table of Contents


Compliance Calendar

Compliance Risk Assessment Matrix


Chapter 1 Advertising

Chapter 1A Postings

Chapter 2 Account Opening

Chapter 3 Deposit Operations


Chapter 4 Loan Advertising and Early Disclosures

Chapter 5 Loan Applications and Origination

Chapter 5A Insider Lending Restrictions — Regulation O

Chapter 6 Loan Operations

Chapter 6A Servicemembers Civil Relief Act

Chapter 6B Consumer Credit Extended to Servicemembers and Dependents

Chapter 6C The SAFE Act

Chapter 6D Real Estate Appraisal Regulations and Appraisal/Evaluation Guidelines

Chapter 6E Loan Compensation and Steering


Chapter 7 Bank Secrecy Act


Chapter 8 Community Reinvestment Act


Chapter 9 Record Retention and Disposal


Chapter 10 Right to Financial Privacy Act

Chapter 11 Privacy Rule

Chapter 12 Security of Customer Information

Chapter 12A FACT Act


Chapter 13 Electronic Disclosure


Chapter 14 Insurance Sales


Chapter 15 Web Site Compliance


Chapter 16 Compliance with Select Lending Laws and Regulations