Sarbanes-Oxley and the Cost of Compliance: How Will Mortgage and Consumer Lenders Respond? : Market Research Report

Sarbanes-Oxley and the Cost of Compliance: How Will Mortgage and Consumer Lenders Respond?

Published by: TowerGroup

Published: Mar. 28, 2005 - 6 Pages

TowerGroup Take-Aways
Report Coverage
The Compliance Problem
The Sarbanes-Oxley Act: Laying the Foundation for Compliance: Exhibit 1: Sarbanes-Oxley Act of 2002: Selected Key Provisions, Requirements, and the Role of IT
Compliance Costs Take a Big Jump: Exhibit 2: Labor Costs and External Fees Dominate Sarbanes-Oxley Spending at Community Banks (2004)
For Small FSIs, Compliance May Affect Survival
Large Lenders Aim for Automated Compliance Risk Management: Exhibit 3: Integrating and Aggregating Compliance Data, Documents, and Processes Across the Enterprise (2005)
Compliance Risk Management by Line of Business
Summary

Abstract

This TowerGroup ViewPoint examines the Sarbanes-Oxley Act and its impact on compliance process creation, automation, and costs. It discusses ways that laws and regulations affect operational risk management, compliance, processes, and technology across multiple lines of business. It also explores the disproportionate impact on small institutions compared with the effect on larger institutions that can afford bigger compliance budgets.

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Sarbanes-Oxley and the Cost of Compliance: How Will Mortgage and Consumer Lenders Respond?

Table of Contents

Abstract