White Paper

6 Pages
  • 6 Pages

6 Ways Financial Institutions Can Support Consumers Impacted by Natural Disasters


Having procedures in place can lessen the risk of defaults.

Immeasurable complications can occur when a natural disaster strikes. These complications can affect both consumers and the financial institutions that they work with. Hurricanes Harvey, Irma and Maria severely affected millions of consumers and have been notably detrimental for low income families. This type of natural disaster can cause financial burden for years and many consumers and business owners will struggle to deal with the aftermath. This white paper reviews how financial institutions are in a unique position to assist consumers in times of distress and help lighten the adverse impacts of natural disasters.



Beji Varghese

Beji Varghese

Guidehouse Inc.

  • Partner in the banking, insurance, and capital markets practice at Guidehouse
  • Specializes in the areas of governance, risk, and compliance and has advised multiple companies in the design and implementation of effective financial reporting internal controls
  • Led multiple FCRA projects, including policy and procedure reviews, assessment of the accuracy of the Metro 2® files submitted to CRAs, and operational assessments of the Metro 2 file creation and e-Oscar dispute processes; he has also led teams responsible for the development of business requirements and technical system requirements designed to be compliant with CDIA guidance around Metro 2 reporting
  • Led credit reporting reviews, risk and compliance reviews, distressed workouts, consent order reviews, and lending best practice reviews for top 20 U.S. consumer finance companies
Casey Stott

Casey Stott

Navigant Consulting, Inc.

  • Senior consultant in the Charlotte, NC office of Navigant Consulting’s banking, insurance and capital markets practice
  • Assisted as the independent consultant on three CFPB consent order engagements related to credit reporting which included an assessment of each furnisher’s policies and procedures, existing staffing and training, and testing a sample of tradelines reported to the CRAs
  • Performed a current state assessment of credit reporting activities (including policy and procedure reviews, tradeline testing, user acceptance testing, and a review of disputes operations) for 3 of the top 5 captive auto finance companies
Emily Ness

Emily Ness

Navigant Consulting, Inc.

  • Senior consultant in the New York, NY office of Navigant Consulting’s banking, insurance and capital markets practice
  • Assisted in drafting business requirements documentation and systems requirement documentation to ensure accurate reporting per the CRRG
  • Assisted in implementing a credit monitoring framework by developing policies and procedures and performing monthly pre and post-transmission testing

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