Most Popular Compliance Content
Paying a "Finders Fee" to Affiliated Broker
09/15/2003
What are the implications of the bank paying a "finder's fee" to employees of an affiliated securities broker for referrals on mortgage or business accounts (loans/deposits)? What if the affiliate securities broker/dealer paid the "finder's fee" to their employees?
What is HOEPA?
09/15/2003
What is HOEPA?
Maximum Days a Bank can be Closed
09/15/2003
I seem to recall a banking law requiring the maximum number of days a bank can be closed and still remain in business. Can someone point me in the right direction?
TIL Disclosure: Required Deposit & Demand Feature
09/15/2003
On a mortgage TruthInLending disclosure, there are two boxes to check that i am not sure about. One is the "REQUIRED DEPOSIT: The APR does not take into account your required deposit." The other box is "DEMAND FEATURE: This loan has a demand feature." Does the "required deposit" refer to the items deposited with the lenderthe escrow account. or does it refer to the downpayment on a purchase transaction? Does the "demand feature" refer to a balloon loan?
Officer Access to the Vault
09/15/2003
I was wondering if Compliance Officers, who are involved in management, are allowed to have access to the vault. I'm not sure about this issue, however, I believe that a Compliance Officer should not have "direct" access of the vault key/combination. They must go through another officer/manager first. Right?