Most Popular Compliance Content
Unauthorized Authorized Debits
03/31/2024
If a customer authorizes someone to use their card and gives them the PIN for a specific transaction, and that someone uses the card for additional transactions that were not authorized by the customer, is their any negligence by the customer for giving the card and PIN for the first authorized transaction? What are the requirements according to Reg E ?
Responding to Exam
03/31/2024
Our bank received an MRA (Matter Requiring Attention) to establish a testing/audit program due to a vacancy in the internal audit position for some time. We've engaged an external audit firm to perform the audit function starting this year. This firm was already engaged prior to our examination. I've never assisted with a response to an MRA and am wondering what format and information should be provided. Can you please share any key components or advice with me on this topic?
Deceased Joint Accountholder Process
03/24/2024
Is this correct? Surviving joint account owner(s) can continue to use a deposit account as normal. The decedent will need to be removed from any deposit account they are an owner of. We thought the account had to be closed and another one opened but I'm hearing conflicting opinions.
Military lending and major problems
03/24/2024
What’s the most severe penalty for a military lending violation you’ve seen?
Prequal Disclosures Required?
03/24/2024
A broker sends a potential borrower to the bank. He wants to pre-qualify for a loan that will be a finished house in a builder's subdivision which is represented by the broker. The dwelling will not be finished for 6 - 12 months. The bank received the application from the broker and pre-qualifies (no pre-approval program) for a later date. There would not be any early disclosures at the type of the pre-qual, correct?