How do I best conduct compliance research?

This is a tough list to give. There are many important things, but my top three are:

1. Know the structure of the regulation. What is the scope, coverage, and exemptions? Don’t spend all day figuring out how to comply with the regulation, only to find your product / service / loan is exempt in the first place!
2. Never forget about the definitions. The devil is in the details. How does the regulation define, for example, “business day," or “customer,” or “covered product”?
3. Determine the key words in your situation, and research them in the BankersOnline threads. Odds are, if you are wondering about something, someone else has too, and a discussion on the matter is living in the threads. That discussion can really illuminate the murky matter!