Most Popular Compliance Content
Privacy and Outsourcing Loan Reviews
10/04/2004
What are the privacy issues related to having a contract person providing loan analysis as opposed to a full-time employee? This person would be required to see financial statements, credit reports, and other personal information about existing customers.
Corporate Definitions
10/04/2004
What is an S-Corporation? What is a personal corporation? What is the difference? What TIN can be used for each, SSN or EIN? Can you have an "Inc." with only one officer, who is president, vice-president, secretary and treasurer?
Prohibiting Benefits for Good (Director) Customers
10/04/2004
Is there any problem if we waive wire transfer fees for directors or their related interest? Also, if we pay a higher interest rate on a certificate of a director, is there a problem? The directors are good customers and keep high balances in their deposit accounts. The fee waiver and rate bump are because they are good customers, not because they are directors (all directors are not given the reduced fees and better rate). I hate to penalize a director for being a director.
Discussing Credit Report Information
10/04/2004
How much information can a bank representative discuss with a loan applicant regarding their credit report without any lending regulations? I've heard everything from "nothing" to all but providing a copy to the applicant.
Collecting on a Minor Account
10/04/2004
We recently charged off a minor savings account and reported it for collection. Can the minor be reported for collection and held responsible for the amount?