If you work in the banking industry, it's much of stretch to assume that you know something about money.
What should I do if I want to switch jobs? (Or careers!?)
When is the right time to return for graduate school?
Why a Bank VP got her Master of Accounting degree (and why you should, too)
Why should I pursue a Master of Accounting degree instead of an MBA?
Is a Loan to an Executive Officer for the purchase of an Investment residential property for his daughter a Reg. O violation?
We have an executive officer that currently has a 1st lien mortgage and a home equity on the same property. He also wants to purchase a lot to build a new house, this lot loan would become financed into one construction perm loan. He will eventually move into this home once the other is sold. Is this possible under Reg-O or would it be best to have this individual finance the construction of his new home at another institution? I am worried about the rule of only having one 1st lien at a time, even though this will be temporary.
What are the financial reporting requirements for Directors and their related interests under Reg O? Do they need to produce tax returns or appropriate financial statements annually for their personal loans and loans to their related interests?
Are advances on lines of credit (such as a Home Equity Line) to officers who later, during the life of the line, become Executive Officers required to be approved under Regulation O? Is each advance an "extension of credit" since a line of credit does not constitute a "binding Commitment?"
I have a Reg O Publication that states executive officers may have to file a report to the board if they borrow money from another bank or banks and 12 CFR 215.9 is referenced. The regulation is not clear on this reporting requirement for executive officers. Can you clarify this requirement.