Fintechs and BaaS banks must ensure that their products and services comply with consumer protection laws. Organizations operating in the BaaS eco-system face challenges and increased regulatory scrutiny regarding their compliance with consumer protection laws.
BERCLA Consulting professionals have examination-tested expertise and experience to help fintechs and BaaS banks develop and implement compliance programs that meet regulators expectations.
We assist fintechs and BaaS banks with a wide range of regulatory compliance services including:
- Implementation of policies and procedures
- Review of new or existing products and services to ensure compliance with consumer protection laws.
- Review of marketing materials for compliance with UDAAP and other applicable laws.
- Review of fintech terms of service, terms and conditions, disclosures and website for compliance with UDAAP and other applicable laws.
- Development and implementation of a complaint management program.
- Development and implementation of error resolution program.
- Development and implementation of ongoing compliance monitoring programs (monitoring reviews and statement testing).
- Implementation of information security and privacy requirements.
- Implementation of effective compliance training programs