Compliance Action, Volume 17, Number 6

Consumer Complaints: A Map for Future Compliance (4 Action Steps)

By Lucy Griffin

Consumer complaints are an excellent early resource for information about developing practices that may be considered to be unfair, deceptive or abusive.

Lawyers and SARs (4 Action Steps)

By Lucy Griffin

FinCEN has issued an advisory to remind legal counsel - internal and outside counsel - about the confidentiality requirement of SARs.

Action Training
Recognizing Complaints Covered by Regulation E (Charts)

By Lucy Griffin

Consumer complaints involving transactions covered under Regulation E must be acknowledged, investigated and resolved promptly.

Compliance Notes

• Spotting Mortgage Loan Fraud
• Comment Period for Overdraft Protection Study Extended
• More on Overdrafts
• CFPB’s Paperwork Reduction Requests
• Still at Work on Mortgage Disclosure Forms

Compliance Calendar

In the Editor's Opinion
Different Size Regulations for Different Size Banks?

By Lucy Griffin

Big banks and little all must comply with the same regulations. But in the interest of relieving some of the regulatory burden for smaller banks, what if a regime of simpler regulations for simpler products was possible?

Compliance Q & A

• Destruction of Credit Reports
• Proper Use of a HUD-1 Settlement Statement
• Updating Policies and Procedures With Recoded Regulations
• Workout Agreements and Rescission Notices

What the CFPB is Up To

Now the focal point of regulatory activity affecting financial entities, what the CFPB does in the coming months will have an immediate effect on compliance programs.