CDFI Regulatory Compliance

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BFG’s Regulatory Compliance Audit empowers your CDFI to enhance regulatory compliance practices, advancing your mission of fostering economic development in underserved communities.

As a Community Development Financial Institution (CDFI), you play a critical role in providing access to financial services in underserved communities. Ensuring compliance with all applicable regulations is essential to maintain the trust and confidence of your customers and stakeholders, as well as to support the growth and sustainability of your institution. We assist with compliance with relevant Federal regulatory consumer laws and regulations to ensure your ongoing Classification as a CDFI.

Our audit team has extensive experience in conducting regulatory compliance audits for CDFIs and financial institutions. We will work closely with your team to assess your compliance with all relevant regulations, including but not limited to:
  • Community Reinvestment Act (CRA)
  • Consumer Financial Protection Bureau (CFPB) regulations
  • Small Business Administration (SBA) regulations
  • Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations
  • Data privacy and security regulations

Our audit process will involve:

  1. A comprehensive review of your policies, procedures, and controls related to regulatory compliance.
  2. A detailed analysis of your regulatory reporting and record-keeping practices.
  3. We will conduct interviews with key personnel.
  4. Perform testing of your systems and processes to identify any areas of weakness or non-compliance.

At the conclusion of the audit, we will provide you with a detailed report outlining our findings and recommendations for improving your compliance practices.

We will also work with you to develop a remediation plan to address any areas of non-compliance and to implement best practices for ongoing regulatory compliance.

We understand that regulatory compliance can be a complex and challenging area, but as a CDFI, your commitment to serving underserved communities demands that you prioritize compliance with applicable regulations.

Working with us is a cost effective solution.

BFG’s Regulatory Compliance Audits offer unparalleled quality of service. BFG clients receive unique support in the marketplace that translates into higher regulatory ratings and examinations. This means:

One-on-one Support with an Assigned Compliance Expert

This eliminates a common concern over who will be the clients “next” consultant on each visit. Each client works exclusively with an expert BFG consultant whereby a unique relationship develops with a level of comfort and familiarity. More is accomplished in less time without the usual operational and staff interruptions incurred with other service providers.

Experienced Professional Experts

BFG recruits nationally to bring our clients the most experienced compliance experts. Our consultant’s average over ten years of regulatory and/or banking experience; many having attained the industries highest accreditation being the “Certified Regulatory Compliance Manager”. BFG professionals include former bankers and regulatory experts from the different regulatory agencies.

  • They possess a variety of experience in working with financial institutions of all sizes from the novo start ups to regional and money center institutions.
  • They understand the workings of the regulators, the examination process and maintain ongoing relationships with them to be abreast of the regulatory changes.

This balance of both regulatory and banking experience brings the bank broad experience and a balanced prospective in addressing issues.

BFG collectively brings our clients a team of professionals with collectively over 100 years of knowledge and experience. Established in 1989, BFG clients are assured of receiving time-tested programs and reliability in a relationship.

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