Latest Compliance - Internal Controls Topics

Disclosing the Military APR

02/28/2021

Do we have to disclose the actual MAPR to all borrowers?

Military lending and major problems

02/14/2021

What’s the most severe penalty for a military lending violation you’ve seen?

Compliance actions when violations are found

01/31/2021

What action steps are needed when we find a severe or frequent violation?

Remember the SCRA when reporting loan history

01/31/2021

Can we report a past due loan to the credit bureau when SCRA protections apply?

FCRA – Permissible Purpose

01/24/2021

Why is a permissible purpose needed to get someone’s credit report?

SEPs and tax extensions—how to report?

01/10/2021

How do we report SEP contributions when the contribution is made after tax reporting date? Extensions?

Inherited IRA titling?

01/03/2021

How do we report the inherited IRAs? How should it be titled?

Can the military in combat zones make late IRA contributions?

12/27/2020

If our customer makes a late contribution because he or she serves in the military, how do we report?

Adoptions and IRAs -- $5000

12/20/2020

Is there a new exception for adoptions for IRAs and the 10% penalty?

Report each IRA CD? No!

12/13/2020

Do we file a 5498 for each IRA CD?