Most Popular Compliance Content
HMDA Reporting - Selling a Participation Loan
12/08/2008
If we sell a participation loan to another bank who reports HMDA?
Borrower Discontinues Loan Application
12/08/2008
Is an adverse action notice required when a loan is approved and the borrower receives a verbal approval (with conditions of approval) and he calls to say he does not want to continue with the application. Can we simply mark the loan approved and not accepted in the HMDA screen and not have to send the borrower any further communication?
Weblink to OREO
12/08/2008
We'd like to add a link to our website to advertise some of our repossessed mortgages. I've been searching for compliance issues regarding this, but have come up empty. Any ideas? Is this an acceptable practice?
Business Accounts- Charging Daily Interest
12/01/2008
Our lending department wants to charge business customers daily interest on accounts that remain overdrawn or uncollected for a number of days after the initial infraction. What customer notification is required and are there any regulatory issues about which we need to be aware?
Notice of E-statement Ready for Viewing
12/01/2008
Under the E-Sign Act, is the bank responsible for tracking or assuring that the customer is receiving the notice that their E-statement is ready to be viewed? We have a system where we send the notice to the email address the customer has provided, if it's not a valid address, it gets kicked back to our server, then we send them a paper copy. At a compliance conference, it was mentioned that we need to ensure that the notice we are sending is viewable to the customer, it's not enough that it reaches them, but the customer should also be able to read the notice (i.e. some email servers may not allow customers to read emails in HTML format). Is this this correct? If so, how do we ensure customers are able to receive AND be able to read their notice?