What everyone really wants to know is whether they are going to receive a visit from the
Of course the most important factor determining the likelihood of an audit involves complaints both to agencies and other public bodies. Also critical are business relationships with other entities having compliance deficiencies, where the nature of that relationship itself lends to the possibility of violations.
Regardless of whether you are a "risky lender" more likely to expect a visit from the Consumer Financial Protection Bureau, every lender—regardless of your overseeing body—should anticipate increasingly vigilant and exacting audits as the compliance bar is quickly rising for all lenders.