Most Popular Compliance Content
Interest Reporting on Secondary Residence
03/19/2007
Is it necessary to report mortgage interest paid on form 1098 if the real estate is not a principal residence?
Is Closing an Account Adverse Action?
03/19/2007
If we close a deposit account due to repeated overdrafts do we have to send an adverse action? No credit report was pulled to make the decision.
Oral Agreement Disclaimer
03/19/2007
Does a Disclaimer Of Oral Agreements for loans over $50,000.00 only apply to commercial loans or to consumer loans as well?
E-Statement Compliance
03/19/2007
We have been told that we have to prove that our customer can receive their statement electronically even though they acknowledge that they can receive their statement and view it based on the computer requirements we outlined in the agreement. We also send an email to the customer to confirm that their email address is valid to receive the notification when the statement is ready. Is this sufficient?
FACTA - ID Theft Procedures
03/12/2007
I am a new compliance officer and in the process of developing a procedure pertaining to ID theft. How do some institutions handle holds on accounts for customers that are a victim of identity theft (FACT ACT)? I know that we could close the deposit account that is affected by the ID theft and reopen a new one, but what about the other deposit accounts the customer has with our institution?