Most Popular Compliance Content
Branch Signage Display Requirements
10/01/2001
Under what Act or Regulation is it specified that each branch a "Notice of Availability of Financial and Other Information" must be displayed?
Finance Charge Violations
10/01/2001
In a R/E transaction (construction loan) if the APR is understated and the finance charge is overstated (due to improperly calculating the estimated interest on the entire balance method) is the violation reimbursable? In reviewing 226.18 and 226.22 it appears that if the finance charge disclosed is greater than the amount required to be disclosed then it is considered accurate and no reimbursement is required. Is this correct?
Compliance Calendar
10/01/2001
OCTOBER
Check around to be sure that everyone is using current OFAC lists. Make this a frequent check. Your examiner will be looking at this.
Required Notice For Large Return Items
10/01/2001
If Institution A plans to return a large item to Institution B, is there any cause or requirement for the Institution A to contact Institution B about the item that is being returned other than the normal return procedures via Fed routing? For instance, if the item is a large amount (over $10,000) it would be beneficial to Institution B to be notified of that as soon as possible (via telephone or fax) to place a hold on those funds in their customer's account.
SSCRA
10/01/2001
In light of the current events, we had a customer who is currently in the Army Reserves inquire about the Soldiers and Sailors Civil Relief Act, (They have a installment loan with us). Could you please do an article that would provide a quick reference overview of this Act. I also want to prepare our lenders in the event that we may have more questions ofthis type.