Regulatory and Governmental Agency Accomplishments

Established Federal Law Compliance Program

Federal ozone regulatory laws (CHFC’s) were implemented by Congress on short notice and required accelerated compliance. Investigated all company products (self-manufactured and sourced) and drafted compliance procedures. Proactive involvement prevented interruption of product to customers.

IRS Fine Reversed 100%

IRS levied fine of $600,000 for non-payment of independent sales force employment taxes. Studied recent pronouncements of IRS and compared to IRS guidelines for independent contractors. Persuaded IRS to reverse its position IN FULL- no payment of any kind required.

Regulatory System Review

Interpreted myriad federal legislation, regulatory rules, and statutes for federal savings bank to ensure compliance with statutes and regulations. Managed relationships with federal agencies.

Utilized New Legislative Opportunity Before Competitors

Shortly after a new law took effect, we created one of the first companies to take advantage of a nationwide residential mortgage origination capability. We researched the laws of 30 states, drafted necessary documentation and obtained necessary state regulatory approvals. We beat our competitors to market and obtained substantial incremental market share by being first.