Most Popular Compliance Content
Changing Required Payment Methods For Safe Deposit Box Rental
10/07/2002
Presently safe deposit renters can either pay by automatic payment from their checking account or send out a annual notice to pay. We are having problems collecting from the customers that we send out notices. Our bank would like to change its policy and REQUIRE renters to have automatic payment from their account or if they don't have an account with us, originate via ACH. Is there any compliance issue regarding the required method of payment? If we require auto payments, I plan to send out a letter to the renters that currently receive notices that they have until the next annual billing to change their payment method.
Lending Protection Insurance Disclosure & RESPA
10/07/2002
Our bank is introducing a new Home Equity Line of Credit loan service. We are considering mortgage lending protection insurance for each line, and wish to pass the premium on to the borrower/s. This would benefit the borrower/s as title policies or certificates would not be required. How should this cost be disclosed under Reg. Z and RESPA?
Home Equity Loans & Collecting Government Monitoring Data
10/07/2002
When a customer obtains a loan in which 40% of the proceeds will be used to refinance an existing loan secured by their primary residence and 60% of the proceeds will be used to consolidate debt, do you obtain government monitoring information? Does the same answer apply to national banks?
How many hats should a compliance officer wear?
10/07/2002
How many hats should a compliance officer wear?
The kids are paying off their parent's mortgage with cash! How do we fill out the CTR?
10/07/2002
A brother and sister brought in $15,000 in cash (their money) to buy a cashier's check to pay off their mother's mortgage. The cashier's check was payable to the mortgage holder with remitter indicated as the mother. The mother did not come to the bank with the son and daughter. What name(s) is reported on the CTR in Section A and Section B?