Compliance Action, Volume 14, Number 16

Reverse Mortgages: A Litany of Risk (6 Action Steps)

By Lucy Griffin

When it comes to reverse mortgages, it's all about risk. The Agencies' proposed guidance warns institutions about the results of failure to address those risks.

Gift Cards: Proposed Rules to Change Business! (4 Action Steps)

By Lucy Griffin

Changes to the credit card rules imposed significant rules and restrictions on gift cards that will change the way you and your commercial customers do business.

Action Training
New GFE Checklist

By Lucy Griffin

Switching to the new GFE process will involve new procedures, software and training. Use this checklist to get started.

Compliance Notes

• New Members for CAC
• BSA Filing Errors
• Flood Penalties Can Add Up
• FDIC's Supervisory Insights
• OCC's Financial Education Efforts
• MSB Registration
• HMDA Asset-Size Exemption
• It's Free; Use It

Compliance Calendar

In the Editor's Opinion
The Wrong Sell

By Lucy Griffin

It may be time for financial institutions to look at marketing as an opportunity to do more than just sell their products.

Compliance Q & A

• Correcting a Broker's GFE
• Accuracy of a Broker's GFE
• Curing Time for GFE
• Verifying Document During Pre-Approval
• Documenting the Application
• Documenting Customer's Loan Acceptance
• Listing Credit Report Fee on the GFE

Rates for RFPA Document Preparation

Regulation S has been updated to reflect current costs and techniques for producing documents that are properly requested by federal law enforcement.