Training Budget Cuts?
By David Dickinson
I'm hearing from a lot of compliance officers say that they are having to cut back their budgets. I understand budgets - allocating resources where they are needed - and I obviously operate one in our business. Bankers are going to have to seriously think about cutting the compliance training budget at this time. If you think about all of the changes (MDIA, HPML, RESPA, just for starters) this is not a time to cut back on training. I think every compliance officer needs to inform senior management of the many changes and need for training. Otherwise, this is going to cost a lot more in the end.