Bancorp’s new CCO assesses third parties amid fintech boom

By Al Barbarino (April 22, 2022, 4:24 PM EDT) – Bancorp Bank’s new Chief Compliance Officer tells Law360 he is focusing on a few key issues in light of the bank’s now-resolved run-ins with banking regulators : streamlining operations, maintaining enhanced customer protection and ensuring strong relationships with third parties.

The bank announced this week that Randall Baugh, a former E-Trade and KPMG compliance professional, will oversee its compliance program, including risk management across its core consumer, trade deposit and lending units. In an interview with Law360 on Thursday, Baugh said he is focused on protecting customers to comply with rules governing fair lending and unfair or deceptive practices.

“Your ‘grandfather’ concept of consumer protection…

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