Compliance Blog

Posted by Anthony Demangone

Ode to 2009

As the year 2008, so slowly did fade
Into 2009, the compliance nation did wade
Never once did we think, in a moment of fear
That we’d ever have to face such a hideous, long year

Enter RESPA, enter UDAP, and enter HVCC
With each “control” “P” I press…exit tree, exit tree
Enter Reg Z, enter Reg S, and enter Part 707
And wasn’t Reg E just a nice slice of heaven?

But Reg Z, I do fear, one mention falls short
With each issuance of yours, my brain cries, “abort!”
Interim final, proposed, final, or final rule – which one?
Do you notice the letter Z is not found within “fun?”
Open and closed loans, credit cards, and a private student loan
Each time the Fed hits “send,” our industry does moan

Now wait just a moment! Fair lending changed, too?!
I am stumbling along, like the blind man Magoo.
And the Credit Card Act, with its 21-day issue
The tears start to swell, as I reach for a tissue.

HMDA, Reg D, it seems a new amendment each day
The only area that was quiet was, this can’t be right ... BSA?

Corporate stabilization, pandemic planning, and loan modifications
California warrants for deposit? Is this still the same nation?
I can't catch my breath, each day brings change a'new.
Yet we roll up our sleeves.  What else can we do? 

2009, my friend, you've been too much...anything but a bore.
But If you're ready to leave, I'll show you the door.

***

Have a happy and safe new year, everyone!  May you find happiness, health and prosperity in 2010.  We're closed tomorrow, but we'll get back at it on Monday.

And apologies to poets everywhere.