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Compliance Calendar


  • Comments on the FRB's proposed changes to Regulation E affecting ATM operators are due on October 7, 2005.
  • Comments on the FDIC's stored value deposit card insurance proposal are due this month. Get your comments in.
  • Anniversary dates are always fun. There are several in October, including ECOA and CIP. This is a good time to schedule training on obtaining, storing and using customer information, including information that may be prohibited by Regulation B.
  • Use your CIP and BSA audits to evaluate and redesign your BSA risk assessment program.
  • Dress up as your favorite regulation for the Halloween party.


  • Review any errors in HMDA reporting and use these for specific training on information collection.
  • This is a good time to check up on information security. Be sure that all systems are in place and effective before the holiday frauds begin.


  • It is compliance recognition time. Find positive things to say and give recognition where staff has done well. The absence of violations should be positively noticed. Also give recognition to anyone who found a problem - and thus prevented more damage.
  • Start the HMDA reporting process. Also take a look at your data. Compare 2005 information to 2004. Look at both in the context of issues raised when the 2004 data was released.
  • It is not too soon to think about the coming medical information rule. Policies, procedures and training, should all be in place before next March. Happy holidays!
  • And while thinking about the medical information rule, think about the rest of the FACT Act compliance. December is FACT Act anniversary month and good time to do audits and take stock of the program.


  • This months marks the end of one HMDA data collection year and the beginning of a new one. If there were issues in your 2004 data, work now to develop lending patterns that show a better picture.

Copyright © 2005 Compliance Action. Originally appeared in Compliance Action, Vol. 10, No. 11, 10/05

First published on 10/01/2005

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