CSI is proud to have Richard as a part of our team of compliance experts.  Richard’s career in banking regulation began in 1970 at the Federal Reserve Bank of Richmond where he conducted the earliest compliance examinations and helped develop the compliance examination program for the Federal Reserve System.  While at the Fed, Richard developed Truth in Lending calculation software systems, trained and supervised TIL compliance examiners, directed TIL enforcement actions, and conducted TIL training for examiners, bankers, and other types of retail lenders.

In 1981 Richard joined Signet Banking Corp. where he was the lead compliance officer for 16 years. During this time, Signet grew to $12 billion with 250 branches and numerous direct and indirect consumer lending businesses. While at Signet, Richard provided calculation support for all of Signet’s lending businesses, including retail installment, sales finance, mortgage, equity (lines and loans), student (non-government loans), commercial (30/60/90, demand, term, etc.), credit card, 401K, and “loan by check”. In this role, he developed calculation models and programming specifications and worked closely with sales, servicing, legal, and DP support staff.  When needed, Richard produced “stand-alone” calculation solutions for point-of-sale quotations and completion of loan contracts and disclosures.

In 1984 Richard developed the “APR EXAMINER” handheld calculator and incorporated APR Systems, Inc. to market this product. The EXAMINER verifies TIL and Truth in Savings disclosure accuracy. Over 4,000  EXAMINERs have been distributed to compliance managers, auditors, attorneys and regulators (state and federal) from Guam to the U. S. Virgin Islands.

In 1997 Richard resigned his day job at Signet to devote full time to APR Systems, Inc. Today, he provides calculation support to CSI clients and other lenders of all types and sizes. Projects range from simple TIL disclosure audits to creation of large complex disclosure production programs for handheld and desktop devices, web servers, and mainframe computers.

Visit his web-site at APR Systems, Inc.