Wolters Kluwer Financial Services Expert to Speak on Pending HMDA Rules

Amy Downey to Offer Regulatory Guidance at the 41st CBAI Annual Convention and Expo

MINNEAPOLIS--(BUSINESS WIRE)-- With finalization of the new Home Mortgage Disclosure Act data collection rules expected soon, Wolters Kluwer Financial Services Amy Downey, product manager and regulatory expert for the company’s Consumer Compliance business, will offer her insights on preparing for the new regulations at the Community Bank Innovations Breakfast presentation during the Community Banker Association of Illinois’ (CBAI) 41st Annual Convention and Expo on Saturday, Sept. 19, at the Omni Hotel in Nashville, Tenn.

The proposed changes include required collection by lenders of over 30 new data points, half of which are mandated by the Dodd-Frank Act. The extent and breadth of these proposed fields will be considerable, and it is anticipated that they will impose additional regulatory compliance and information technology challenges on lenders.

“Although the rules have not been finalized, we expect that the additional fields ultimately adopted will bring significant regulatory challenges for lenders,” said Downey. “This presentation will help lenders understand the scope of potential changes, the possible implications for their businesses, and what kinds of meaningful, proactive steps they can take now to prepare for those required changes.”

Wolters Kluwer Financial Services has a longstanding relationship with CBAI, as well as with its services subsidiary, Community BancService Corporation, which has endorsed a number of the company’s regulatory compliance and loan service origination offerings as part of a collaboration established in January 1988.

For more information, visit the CBAI conference website.

About Wolters Kluwer Financial ServicesWolters Kluwer Financial Services provides customers worldwide with risk management, compliance, finance and audit solutions that help them successfully navigate regulatory complexity, optimize risk and financial performance, and manage data to support critical decisions. With more than 30 offices in 20 countries, our prominent brands include: AppOne®, AuthenticWeb™, Bankers Systems®, Capital Changes, CASH Suite™, GainsKeeper®, NILS®, OneSumX®, TeamMate®, Uniform Forms™, VMP® Mortgage Solutions and Wiz®. Wolters Kluwer Financial Services is part of Wolters Kluwer, which had 2014 annual revenues of €3.7 billion ($4.9 billion), employs 19,000 employees worldwide, and maintains operations in over 170 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150916005062/en/

Wolters Kluwer Financial Services
David Feider, 612-852-7966
Corporate Communications Manager
[email protected]
On Twitter: @davidafeider

Source: Wolters Kluwer Financial Services

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