Compliance Action, Volume 26, Number 5

FCRA
With Your Permission: FCRA’s Permissible Purpose Provision (3 Action Steps)

By Nancy Castiglione, CRCM

Regulators are maintaining continuing pressure on both consumer reporting agencies and furnishers/creditors of consumer information to ensure compliance with the FCRA, particularly the Permissable Purpose provision.

Penalties
Interesting Enforcement Actions (3 Action Steps)

By Nancy Castiglione, CRCM

Key enforcement actions from regulatory agencies can provide important insights into trends that indicate what to expect from the regulators in the near future.

Compliance Notes

• Payday Loan Rule Court Ruling
• Updated OFAC Advisory on Ransomware Payments
• List of Major Drug Transit or Major Illicit Drug Producing Countries
• FTC Updating FCRA Regulations Affecting Motor Vehicle Dealers
• CFPB Withdraws Proposal to Delay Effective Date of Regulation F
• FinCEN Notice Addressing Online Child Sexual Exploitation

Compliance Calendar

Editorial
Effective Communications = Effective Compliance Management Program

By Nancy Castiglione, CRCM

Communication – specifically the lack of or poor communication – can lead to key compliance management problems for compliance managers.

Questions & Answers

• CRA, ECOA, FHA: An OCC Address Correction
• Adverse Action: Disclosing Delinquent Credit Obligations of the Guarantor
• Easing Eligibility Requirements for BSA Exempt Status During the Pandemic

Compliance Online
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