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Compliance Action, Volume 13, Number 15

December 22, 2008

Payment Processors: The Risk They Present (5 Action Steps)

By Lucy Griffin

The risks presented by payment processor customers ranges from strategic risk and compliance risk to possible damage to the institution’s reputation.

Meeting Credit Needs (5 Action Steps)

By Lucy Griffin

Giving careful attention to safety and soundess, financial institutions should actively work to meet the needs of creditworthy borrowers in their markets.

Action Training
Red Flag Identity Theft Program: Required Elements (Chart)

By Lucy Griffin

Financial institutions are required to implement and maintain written compliance programs for identity theft red flags.

Compliance Notes

Compliance Calendar

In the Editor's Opinion
RESPA's Effective Date

By Lucy Griffin

Besides being the worst regulation published in this century, the RESPA revisions take effect long before use of the new GFE form will actually be required.

Compliance Q & A

Transfer of Servicing

HUD's final revisions to GFE contain model language for the settlement service transfer based on the current statutory requirement.

ExecutiveEditor:
Lucy H. Griffin, Esq.
Board of Advisors:
Patti Blenden
John S. Byrne, Esq.
David Battle
Robert P. Chamness
David Dickinson
Phillips G. Gay, Jr.
Barbara Hurst
Robert G. Rowe, III, Esq.
Michael D. Maher
Andy Zavoina

Compliance Action