When we purchase a participation from another bank do we need to pull our own Flood Certificate or may we rely on the first certificate?
Are adverse action letters required when a customer cancels or closes a pending or approved consumer loan?
I have recently moved into the compliance area at our bank. The previous compliance officer revoked CTR reporting exemptions for sole proprietorships. Is there anything in the regulations that prohibits us from granting an exemption from CTR reporting requirements to a sole proprietor?
When the closing attorney needs to Fed Ex a package which includes bank documents should this Fed Ex fee be considered as part of a finance charge?
I know that adverse actions must be in writing, but I am wondering about notification of action taken. Can counteroffers be provided verbally with a written denial notice provided within 90 days if not accepted?