Expert insights help lenders manage regulatory, operational challenges brought about by the pandemic
MINNEAPOLIS–(BUSINESS WIRE)–#cares—Wolters Kluwer Compliance Solutions has initiated a series of informative podcasts to help lenders adapt under the COVID-19 pandemic environment and address its broad-reaching impacts for their lending practices. With topics ranging from effectively managing regulatory change to clarifying loan forgiveness requirements under the CARES Act Paycheck Protection Program (PPP), the episodes feature Wolters Kluwer regulatory consultants and other industry experts sharing insights to assist lenders in serving their banking customers.
The following podcasts are available on-demand:
A Lender’s Guide to Forgiveness
The SBA has begun processing Paycheck Protection Program loan forgiveness submissions. Wolters Kluwer Banking Segment Leader Samir Agarwal interviews Neal Doherty, Managing Consultant with Wolters Kluwer’s U.S. Advisory Services team, on the mechanics of forgiveness, including preparing borrowers and managing expectations post forgiveness.
Loss Mitigation: Navigating Operational Challenges in a Pandemic Environment
At the end of allowable forbearance periods required under the CARES Act, there will be a wave of borrowers requiring post forbearance workouts. Servicers are concerned about having the capacity to handle the impending wave of loss mitigation workouts. Wolters Kluwer’s Samir Agarwal interviews Chris Zimmerman, a Wolters Kluwer product manager for servicing technology solutions, on strategies for operationalizing servicing in a remote environment. They also offer strategies and policies to assist lenders facing multiple pandemic-driven challenges, including an influx of loss mitigation workouts.
Fairness in the face of crisis: Fair and responsible banking in the midst of chaos
The COVID-19 pandemic has created an increasing number of vulnerable populations. With regulatory relief programs, dispersed workforces, and distance banking, keeping a focus on fairness and fair lending has been increasingly challenging. Britt Faircloth, Consulting Manager with Wolters Kluwer’s U.S. Advisory Services, confronts the reality of increased vulnerable populations created during the pandemic, providing strategies for maintaining fairness given new regulatory programs, distance banking and dispersed workforces.
Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks and credit unions, insurers and securities firms. The business, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions efficiently manage compliance obligations tied to loan and deposit origination transactions and workflows, manage risk and other regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.
Wolters Kluwer’s TSoftPlus™ PPP Forgiveness Module is one of several expert solutions launched by the company’s GRC division in response to the COVID-19 crisis. iLien for Main Street is a technology solution designed to help U.S. lenders optimize their due diligence and lien management efforts when securing loans for small and medium-sized businesses under the Main Street Lending Program. COVID-19 Noteworthy Developments Bulletins, meanwhile, aggregates COVID-19 related global regulatory changes, orders, notices and other informational updates for the financial services industry.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2019 annual revenues of €4.6 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.
Corporate Communications Manager, Banking & Regulatory Compliance
Governance, Risk & Compliance Division
Tel: +1 612-852-7966
On Twitter: @davidafeider
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