Where can we access a timeline of OCC regulatory and supervisory responses to COVID-19?
For employment purposes, where can I find a list of bankers that have been banned from banking?
How can we improve documentation on secondary reviews?
With the reassignment of a lender at a branch office, we no longer have a loan officer on site. Must we seek approval from regulators to reduce the services of a small branch office? We still offer full depository and safe deposit box services, but do not have a lender in the branch. We have another branch office within 5 miles that is fully staffed. When changing from full (deposit and loan services) to limited services, must advance approval be sought?
Our institution has a mortgage loan secured by the borrower's business; the loan proceeds are for personal use. The borrower wants this set up as a single-pay but our loan originating system keeps bringing up a negative amortization warning and ask the originator to switch to a balloon payment or ARM. Is a single-pay an option or is it not allowed for a consumer purpose loan?
What is the difference between rephasement & restructuring?
I have an issue that some of our tellers are not understanding. Tell me from the compliance standpoint of CIP how this should be handled. We have always required ID on all people, customersif you do not know them and noncustomersno question. However, some tellers are not asking for ID on noncustomers because they have been coming into the bank for the last 5 years to cash their check so they do not get their ID. How do you suggest we handle this situation?
When an originator takes a phone application, what is acceptable by the regulators that all the proper disclosures have been provided to applicant? My other concern is can we still pull a credit report with written authorization from applicant? ( This usually being provided by a signed application.) I was and still am under the impression that credit should not be pulled until you have an application.
If a customer has Overdraft privilege, is the bank required to print balances on receipts with the privilege as part of the balance?
We would like to start charging for credit report fees at our financial institution. Are there any fair lending considerations that we should be aware of (especially where pulling joint credit bureau reports is concerned)?