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Vendor Guru Q&A - Compliance

Significant Overhead for Banks and Credit Unions Caused by Regulatory Compliance Needs

CFPB Holds Financial Institutions Accountable

Correct Timelines Need to be Adhered to According to CFPB Supervisory Highlights Publication

Benefits of Automating Regulation E Dispute Process

Latest Compliance - TILA Topics

Court Strikes Down Reg Z Finance Charge Exclusion

04/12/2002

"Fixed" Doesn't Mean "Fixed Forever"

04/08/2002

by Mary Beth Guard

If the customer increases a loan request, do we need to modify the GFE?

03/11/2002

If a customer applies for a loan secured by residential property and we give them a good faith estimate and they come in a few days later requesting a loan for a larger amount, do we need to give them a revised good faith based on the larger amount?

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?

TIS Obligations and Restitution

01/15/2001

I need a quick summary of our obligations regarding interest recalculation and possible restitution if we discover that we are not paying interest on deposit accounts as disclosed in the Truth in Savings disclosure.

Is Reimbursement Required?

01/15/2001

Concerning Reg Z and the TIL form, when we find that our bank has improperly disclosed the APR and Finance charge on a mortgage loan, how do we go about calculating the reimbursement? Does this always automatically trigger a reimbursement? I have tried to find info on it in the regulation but have not found anything to help.

Question & Answer

11/01/1999

Question: Is there a limit, as an amount or a percentage, that a lender may charge for late fees?

Question & Answer

02/01/1999

Question:: If there is an apparent discrepancy between a regulation and an act, which one should the bank follow?

Are We Headed For A New Compliance World?

10/01/1998

Imagine a world in which banks must give disclosures about their costs and third party costs before the applicant signs or pays anything.

Significant Residential Mortgage Issues for 1999

02/01/1998

by Alan Dombrow, Senior Manager, CFI ProServices, Inc.

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Premium Content View All

Help from the Bureau: The 2013 HOEPA Rule

Even the Bureau agrees: the list and load of new regulations is daunting. And from our current perspective, implementation seems overwhelming. Fortunately, the Bureau is providing some help.

Foreclosures and Multiple Owners

Question: I have a question related to foreclosures. What are our obligations as a bank to the client before we begin foreclosure proceedings?

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Most Popular Compliance Content

Best Practice for Signature Cards/Name Change

11/17/2019

If a customer changes their name due to a marriage or divorce and we collect the appropriate documentation, why is it best practice to receive a new signature card?

Account Closing Survey: CAN-SPAM Rules?

11/17/2019

If our Bank is adopting an account closing survey and they want to send it to closed account customers by text and email, does this fall under the CAN-SPAM rules? They are only requesting feedback, there is no promotional material.

FATCA and NRA Interest reporting

11/17/2019

When did all this interest reporting begin on NRA?

Should we close NRAs?

11/10/2019

Do we have to close NRA interest-bearing accounts if we do not have FTIN?

Can You Opt In AND OUT of the New Capital Rules Framework?

11/10/2019

If my bank qualifies for, and opts into, the Community Bank Leverage Ratio (CBLR) Framework for our March 31, 2020, Call Report, can we opt OUT of the Framework at a later date?

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