Most Popular Compliance Content
Reg B Verification of Income and Assets
05/21/2017
For Reg B purposes we require a verification of income and of assets to have a "completed application." If we receive an appraisal for a lower than expected amount, if the loan was already approved would this prompt a counteroffer if we can't use the original terms that we offered based on the verification of income and verification of assets?
Deposit Ads in Social Media
05/21/2017
If our bank mentions our new Super Rate CD on its Facebook page without providing any details like rate or term, etc., do we need to include the FDIC Logo?
Transaction Testing Approach by Compliance Audit
05/21/2017
I’m developing my compliance audit plan for the upcoming year and, from a timing perspective, need to determine the amount of transaction testing to be performed. Does any testing conducted during compliance monitoring factor into my determination?
Do you have a permissible purpose to pull that credit report?
05/21/2017
We were cited in our last exam for not having a permissible purpose to pull a credit report; however, I can’t find information in the regulation regarding permissible purpose. Where can I find this information?
UDAAP look-back period
05/14/2017
We self-identified a problem with our disclosures that could be interpreted as UDAAP. How far should our look-back be when considering reimbursement?
