Most Popular Compliance Content
Borrower Submitted RE Inspection Photos
10/09/2022
Does the OCC or other regulatory agencies specifically allow or frown on borrowers taking photos for real estate inspections if the lender requests these through the Verisite Firewall application? The Verisite mobile app can geocode the photos for location confirmation but having the borrower involved may be an issue. Otherwise this could be a way to expedite the processing on some loans.
Time Limit to Recall ACH
10/02/2022
Our credit union received a request for a return for an ACH transaction that was made in error. The request was sent to via fax on 9/1/2022. The original transaction was dated 7/22/2022 and is now outside of the return time frame. Is the CU required to honor this return and, if so, is it acceptable to honor a fax'ed request? We are under the impression that it would need to go through the Federal Reserve. Any advice that you can offer would be greatly appreciated.
Chargeback Rep Payee Returned Check
10/02/2022
If we cashed a third party check for the customer who has a Rep Payee account and the check comes back as fraud, are we able to charge that check back to our customer's account since it is a Rep Payee account?
Tx Specific Deposit Forms
10/02/2022
This is actually Texas specific, but I need help. Does the Uniform Single- Or Multiple-Party Account Form apply to sole proprietorship accounts? I cannot find a clear answer on the applicability to this account or entity type.
Don't make this CRA mistake!
10/02/2022
What's the worst mistake a bank can make regarding the CRA?