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Episode Title: The Speed of Risk: Bridging the Gap Between Compliance Models
Podcast: Financial Forward – A McCarthy Hatch Podcast
Duration: 43:33

Episode Summary:
In this episode of Financial Forward, host Jim McCarthy explores the evolving dynamics of risk management in the financial sector. Drawing on his expertise as a former founding member of the CFPB, Jim compares the traditional compliance methods of prudential regulators with the CFPB’s modern, data-driven approach. He highlights the challenges banks face in adapting to real-time risk identification and the urgent need for a mindset shift to align with 21st-century regulatory expectations.

What You’ll Learn:

• The limitations of legacy compliance models built for prudential regulators.
• How the CFPB uses consumer sentiment data to uncover harm in real time.
• Why time is no longer a luxury in managing regulatory risks.
• Strategies for modernizing compliance systems to meet today’s demands.
• Practical insights on how banks can proactively identify and mitigate risks.

Key Takeaways:

• Risk identification has dramatically accelerated with the CFPB’s innovative methods.
• Legacy compliance systems often delay actionable insights, increasing vulnerability.
• Embracing real-time analysis and modern compliance tools is essential for staying competitive.

Resources Mentioned:

• CFPB Consumer Complaint Database (consumerfinance.gov)
• McCarthy Hatch Insights on Compliance and Risk (McCarthyHatch.com)

Connect With Us:

• Website: McCarthy Hatch
• LinkedIn: McCarthy Hatch on LinkedIn
• Email: [email protected]

More from Jim:
LinkedIn: https://www.linkedin.com/in/mccarthyhatch/
https://www.mccarthy-hatch.com/