Compliance Action, Volume 19, Number 3
HMDA, one of compliance's age-old regulations, like most other regulations has evolved with the times. Now in the hands of the CFPB, big changes are coming. The agency has issued a Fact Sheet outlining its plans to improve HMDA.
Entering a business relationship with a high-risk entity, such as a legal marijuana business, requires heightened due diligence and effective risk management.
- FinCEN Rule for GSEs
- FTC Stops Gift Card Fraud
- FDIC Information for Consumers
- DOJ BSA Enforcement
- DOJ Proposes ADA Rule
- Enough Examiners?
In the Editor's Opinion
What is HMDA Supposed to Be?
Starting out as a fair lending tool and later expanded to help support CRA evaluations, CFPB's intended changes to HMDA significantly alter its purpose.
Compliance Q & A
- FCRA Notice for Business Purpose Loan
- Use of a Credit Report for Cross-Selling
- Appraisal Disclosure When Loan is Denied
- Appraisal Notice for Pre-Qualifications
Recognizing the need for legal marijuana businesses to have banking relationships, FinCEN has issued guidance to financial institutions on managing the high risks associated with these accounts.
- Executive Director:
- Lucy H. Griffin, Esq.
- Board of Advisors:
- Patti Blenden
John S. Byrne, Esq.
Robert P. Chamness
Phillips G. Gay, Jr.
Robert G. Rowe, III, Esq.
Michael D. Maher