In terms of extensions of credit, specifically overdrafts and the treatment thereof, I understand Reg O excludes related interests of directors. But one of my directors is the only owner of an LLC. The checking account of the LLC recently overdrew in excess of $1500 for 8 days. Do I have a probable Reg O violation or is the account excluded as a related interest?
FDIC will serve on the Presidential public/private partnership to make financial education available to Hispanic communities in comprehensive and consistent ways.
Ever since its implementation, the efforts to develop and implement a Customer Identification Program have been fraught with questions.
There is no better indicator of how HMDA data will be used than the ideas expressed by members of the Federal Reserve Board's Consumer Advisory Council ("CAC").
When it comes to Truth in Lending, the advertising rules sometimes stick in the craw.
I realize that a loan to an individual secured by real estate is subject to 1098 reporting. What is the law cite discussing the definition of real estate for 1098 reporting? I want to be able to document my answers to management.
With the Federal Reserve's most recent attempt to clarify the signature rules of Regulation B, the debates about compliance and proof of compliance are running rampant.
What is an S-Corporation? What is a personal corporation? What is the difference? What TIN can be used for each, SSN or EIN? Can you have an "Inc." with only one officer, who is president, vice-president, secretary and treasurer?
We received a subpoena from the US District Court. It was a request for a business account information of one of our customers. Does this fall under the Right to Financial Privacy Act?
When opening a business account, if we find that one of the signers is on ChexSystems due to NSF abuse on his/her personal account, are we required to open the account? Can we disclose the information to the owner of the business? What we do currently is refuse to open the account and notify the owner of the account that one of the signers has a record on ChexSystems, but I'm not sure if that is the appropriate way to handle this situation.