Wolters Kluwer compliance professionals to discuss new Community Reinvestment Act regulations

Webinar will provide insights on CRA definitional changes

MINNEAPOLIS--(BUSINESS WIRE)--Compliance professionals from Wolters Kluwer Compliance Solutions will host a webinar this month to discuss key definitional changes under the final rule amending the Community Reinvestment Act (CRA) regulations. The changes, as published in the Federal Register on February 1^st, 2024, present significant interpretive questions for covered U.S. lenders and will be discussed in the webinar, “CRA Defined Terms – A look at key definitional changes under the modernized CRA regulations,” on Thursday, March 21, 2024, at 1:00 PM C.T.

The new regulations contain new defined terms and update existing ones. Regulatory compliance professionals Jason Keller and Kris Stewart of the Wolters Kluwer Financial & Corporate Compliance division will provide an overview of these definitional changes to help guide CRA practitioners through their organizations’ updated rule implementation processes.

“Participants will leave with better insights into the new definitional terms and, importantly, how changes impact banks’ implementation of the modernized CRA,” said Vikram Savkar, Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions. “Understanding regulatory definitions is a fundamental prerequisite for comprehending the new regulation and ensuring its proper application in practice.”

Attendees will be the first to receive Wolters Kluwer’s newly completed CRA defined terms whitepaper, which provides a side-by-side comparison of terms used in the current regulation with those reflected in the final rule.

Reporters wishing to arrange an interview on navigating CRA compliance obligations with Wolters Kluwer experts, such as Keller and Stewart, are invited to contact David Feider, Associate Director, External Communications, Wolters Kluwer FCC.

Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks, credit unions, insurers and securities firms. The business, which sits within the Wolters Kluwer Financial & Corporate Compliance (FCC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business. Wolters Kluwer FCC is also home to CT Corporation, a leading provider of registered agent services, incorporation services and legal entity compliance, including the new beneficial ownership requirement for small businesses that took effect January 1, 2024.

About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

Wolters Kluwer reported 2023 annual revenues of €5.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

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