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Payment Processing Compliance Training

Due to the recent focus on the payment processing industry by several federal agencies including the Department of Justice (DOJ) and the Federal Deposit Insurance Corporation (FDIC), leam2comply has developed a compliance practice to assist lenders and third party payment processors (TPPP) in complying with new guidance on payment processing . We focus not only on actual processing of payments but on how TPPPs can improve their overall compliance capabilities by reviewing additional areas of their client’ s business.

We assist TPPPs, financial institutions , and lenders by performing the following services:

  • Enhancing required due diligence qualifications for TPPP clients
  • Assisting TPPPs in reviewing due diligence items and prequalifying lender applications
  • Assisting TPPPs in performing quarterly compliance reviews of lender clients
  • Ensure adherence to NACHA rules, OLA best practices and other regulatory guidances
  • Perform audits of TPPPs and TPPP clients
  • On-going review client payment processing activity to ensure adherence with the consumer loan agreement.
  • Underwriting guidelines for ODFIs
  • Development of policies and procedures for ODFIs
  • Board reporting templates
  • Triggers for client audits based on severity of violation of client underwriting rules