Vendor Guru Q&A - Compliance

Latest Compliance - Fair Housing Topics

Signs in Lobby for Loan Production Office

09/03/2017

We are going to open a loan production office and need guidance on what types of signs need to be in the lobby. I'm thinking only the Equal Housing Lender Poster, but not sure. We are not taking deposits, and we are not a HMDA reporter.

Are Partial Counties Allowed in Fair Lending Analysis?

11/06/2016

Can I take partial counties for my Fair Lending data analysis?

Fair Lending 101: What Does BISG Mean in Fair Lending?

12/06/2015

What does BISG stand for, and what does BISG mean for Fair Lending Compliance?

Signage Requirements-Offsite Client Meetings

06/20/2011

Our lenders have been meeting clients offsite more frequently (i.e. at their home or place of business). Since the customer may not enter our branch, how do we meet signage requirements for Regs such as Fair Housing, CRA, CIP, and Truth in Lending?

Gross Income for Loan Applicants

10/18/2010

We qualify loan applicants based on gross income. Our credit officer says that tax free income from SSI or VA Disability is the gross income and shouldn't be grossed up. I say the income is net and should be. Who's right? If we don't gross tax SSI up, are we discriminating?

Credit Report & Flood Determination Fees

09/07/2009

We want to start charging our customers for credit reports and flood determinations. Is it ok to only charge customers that we actually close the loan with or would this be discriminatory? We don't want to charge the credit report fee at application. We would rather wait until the loan is closed before the fee is imposed on the customer, therefore if a denial is made, the denied customers would not have the fee imposed on them.

Retention of Website Pages

07/06/2009

What website information are we required to keep? Are we required to store our old website pages on the server?

New FDIC EH Lender Poster

11/17/2008

Our legal department just notified us that the Equal Housing Lender poster will need to be updated because the FDIC is making changes. Can you tell me where I can get copies of the updated poster? Is it available in both hard copy and PDF format?

We Don't Do HMDA Reporting - Do We Collect Info?

08/18/2008

I am brand new to compliance at a small national bank that does not do HMDA reporting. Do we still have to collect the information (gray areas of the residential loan application) as required by 12 CFR 27?

Equal Housing Lender Posters - OCC Vs FDIC

02/11/2008

I just ordered Equal Housing Lender posters in October 2007 and another person in the bank ordered them since then. I got mine from the Comptroller of the Currency and the others came from the FDIC. They are exactly the same except for the address for processing under the Federal Fair Housing Act. The posters I received have an address for the Comptroller of the Currency and the other posters ordered have an address for the FDIC. Which is correct or does it matter?

Is checking online banking, being aware of a loss?

11/10/2024

Can a bank use the customer’s history of access to their online banking, to determine when the customer was aware of a loss such as an unauthorized electronic funds transfer?

Deceased Joint Accountholder Process

11/10/2024

Is this correct? Surviving joint account owner(s) can continue to use a deposit account as normal. The decedent will need to be removed from any deposit account they are an owner of. We thought the account had to be closed and another one opened but I'm hearing conflicting opinions.

Rep Payee and Reclamations

11/03/2024

If Representative Payee dies, what happens to existing funds in the account post reclamation of that months funds? Does the new Rep Payee have authorization to access funds?

Where are Check Return Limits Specified

11/03/2024

Where in the regulations does it spell out the time limits and liabilities for banks regarding counterfeit checks, altered checks, forged endorsements, etc?

Conditioning Overdrafts on Opt-in

11/03/2024

Reg E (12 CFR 1005.17(b)(2)) says we cannot condition the payment of checks and other transaction on the whether the consumer has opted into overdrafts via ATM and one-time debit card transactions. However, it does not clarify whether the opposite is allowed – meaning can you condition ATM and one-time debit card transactions on whether someone has opted into overdrafts via check and other transactions? I can't find any guidance on this question, so any advice is much appreciated.