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April 16
Handling ACH Origination Exception Issues
Shelly Simpson

April 17
Fair Lending - Internal Monitoring
Patricia Cashman

April 22
A Banker's Guide to Virtual Currency
Andrew Beal

April 24
BSA/AML Compliance: Writing the SAR Narrative
Ken Golliher

April 29
HSA Basics
Whitney Johnson

April 29
Required Training for Loan Originators
Mary Beth Guard and Jack Holzknecht



Topic Options
#1299700 - 12/07/09 08:08 AM CHARM Booklet
Mainiac Offline
100 Club

Registered: 11/25/05
Posts: 147
What is the currtent version of the CHARM Booklet we are supposed to be using? It appears there is an August 2009 version on the FRB website, but I don't remember any communication that we had to use this version as of some date.

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Lending Compliance
#1301157 - 12/08/09 03:04 PM Re: CHARM Booklet [Re: Mainiac]
2old2care Offline
Platinum Poster

Registered: 10/16/06
Posts: 614
I contacted the FRB regarding the CHARM Booklet.


Publications Fulfillment has been advised of only one brochure needing to be updated by January 2010. That brochure is the settlements costs brochure, which must include new RESPA guidelines/information by January 1, 2010.

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#1301311 - 12/08/09 04:40 PM Re: CHARM Booklet [Re: 2old2care]
Mainiac Offline
100 Club

Registered: 11/25/05
Posts: 147
Thanks

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#1302143 - 12/09/09 04:12 PM Re: CHARM Booklet [Re: Mainiac]
biz Offline
Platinum Poster

Registered: 11/07/05
Posts: 974
Loc: Midwest
I must be a doofus-but/so is the August 2009 booklet the one we should be using, as ours is dated in 2006? Or are we ok in using the 2006 supply?

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#1302179 - 12/09/09 04:35 PM Re: CHARM Booklet [Re: biz]
Reads Regs Offline
Diamond Poster

Registered: 11/15/04
Posts: 1977
The FRB never issued a press release indicating that they made this 8/2009 update to the CHARM booklet. In the past, when substantive changes were made to the booklet they would issue a press release announcing the new version of the booklet and they would tell you that you could exhaust your existing supply and then order the new booklet.

Keep in mind that the 8/26/09 Reg. Z proposed rule for closed-end credit is proposing to eliminate the CHARM booklet altogether and replace it with a one page disclosure that discusses fixed versus variable rate loans. If you have enough of your 2006 booklets, I would continue to use them.
_________________________
Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.

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#1302199 - 12/09/09 04:47 PM Re: CHARM Booklet [Re: Reads Regs]
Gotwood Offline
Platinum Poster

Registered: 05/22/01
Posts: 693
the august 9, 2009 date is the date the website was updated, there is no reference to the charm book changing.

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