Michael P. Wallace
Michael P. Wallace is compliance expert and former regulator with more than 25 years of experience in consumer protection laws and regulations, including over 19 years as a bank regulator. His risk management expertise is especially deep within fair lending, Community Reinvestment Act (CRA), and Home Mortgage Disclosure Act (HMDA).
In his prior experience as a regulator, Michael served as an examiner for the Federal Reserve Bank of St. Louis and also Dallas. He started in 2001, became senior examiner in 2007, and was appointed supervisory examiner in 2010. He managed the fair lending oversight program at the Federal Reserve Bank of St. Louis and served on numerous Federal Reserve System projects related to fair lending and CRA.
He also worked for the Arkansas State Bank Department and earned his bachelor’s degree in business administration from the University of Central Arkansas.
Michael specializes in risk-based examination methodologies, providing clients with risk assessments, self-evaluations, audits, and customized training sessions, including:
- Designed and implemented a second line of defense complaint management system for a large, national bank
- Developed and delivered training solutions for staff and boards of directors. Michael also previously served as lead instructor for the Federal Reserve System’s intensive, two-week fair lending training class for examiners
- Served as regulator on two examinations that resulted in settlements with the U.S. Department of Justice
- Fair lending: risk assessments, redlining analyses, comparative file reviews/audits, lending data dashboards, compliance management system (CMS) evaluations, responses to findings of apparent discrimination (preliminary findings letters)
- CRA: full-scope self-evaluations (small, intermediate-small, and large banks), community development evaluations, impactful performance context, CRA rating appeals
HMDA: data integrity reviews, policies and procedures evaluations, CMS evaluations.