Banks and Fintechs Can Now Automate Control Testing Across Multiple Regulatory Frameworks.  

Banks and fintechs are navigating a complex regulatory landscape, with frameworks like Reg B, Reg E, and Reg Z requiring thorough control testing across various areas, including dispute management, credit evaluations, and clear lending practices. Traditionally, compliance teams have relied on outdated manual methods to handle control testing for these regulations, leading to inefficiency and errors, which increases the risk of costly fines, erodes customer trust, and causes reputational damage.

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Now, Cable offers a game-changing solution. For the first time, banks and fintechs can automatically test their Reg B, Reg E, and Reg Z controls across 100% of their dispute and lending data, ensuring compliance with fair and equal access to credit, accurate disclosure delivery, timely investigation and error resolution, and proper record-keeping. Alongside Cable’s existing BSA control testing, banks can get a comprehensive view of their compliance— all within a single platform.

Four Reasons to Automate Control Testing

1. Catch Control Failures, Immediately
   Cable automatically tests your controls for any non-compliance. No more manual sampling – just faster, real-time compliance. This allows your compliance team to address process issues as they arise and stay ahead of potential risks, as well as have the confidence to walk into audits and exams knowing that you don’t have any control issues.
   
   
2. Scale Faster, In Control:
   Launching new products can be a slow process, because each hurdle requires manual testing to ensure compliance with a whole new set of regulations. But with Cable automatically testing 100% of accounts and transactions, you can grow faster with exponentially more compliance confidence.  
   
   
3. Reduce Costs
   Automating control testing allows your compliance team to test 100% of these regulatory controls, accounts, and transactions– no matter how high the volume– while significantly reducing people-hours spent on manual testing and reviews. This leads to substantial cost savings. The real-time insights into compliance also help you avoid costly fines like the $6.2 million fine against Atlantic Union Bank and the $175 million fine levied against Cash App for Reg E violations.
   
   
4. Increase Efficiency
   By ensuring greater testing accuracy without the need for extra staff, automation helps your team improve overall efficiency, reducing the time spent on compliance tasks.

Conclusion: The Time for Automation is Now

Regulators will continue to scrutinize how banks handle complaints and error resolution, and penalties for non-compliance are rising. By automating control testing for Regs B, E, and Z, banks can improve efficiency, reduce costs, and ensure compliance. 

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Regulatory control testing is no longer a luxury—it’s a necessity, and the tools to implement it are available now, with Cable. 

Think You Know Reg B, E, and Z? Take the Quiz! 

Take our Ultimate Compliance Quiz and discover how well you know the requirements for Reg B, Reg E, and Reg Z. It’s a fun and interactive way to see how much you know—and learn more about these important regulations.

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Ready to put your knowledge to the test? Start the Quiz Now and see how you measure up!

Expand Control Testing with Cable

Want to stay ahead of the compliance curve? Discover all the additional frameworks Cable has to offer today.

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