Most Popular Compliance Content
Reporting Rules for Open-End & Closed-End LOCs
11/24/2008
My studies indicate lines of credit are optionally reported (we do not report). Most of the writings seem to equate lines of credit with home equity lines of credit with no distinction between closed-end and open-end. Are there different reporting rules for open-end and closed-end lines of credit?
Deposit Incentive
11/24/2008
We are considering paying a referral fee for new deposit accounts. Instead of paying the customer or the person making the referral, we'll make a donation to a charity of their choice. Are there any compliance issues with this?
In Branch Advertising
11/24/2008
Our grocery store branches have limited floor space. During the day they can move some signs to the walkway in front of the branch and at night, pull them back in before the gate is lowered. For ease of use and to vary the product offerings they are using whiteboards and people with really nice penmanship. What compliance problems are there with whiteboards?
Just Say APY?
11/17/2008
When responding to oral inquiries about interest rates, is it necessary to use the phrase annual percentage yield when stating the APY? Is it acceptable to just say APY?
New FDIC EH Lender Poster
11/17/2008
Our legal department just notified us that the Equal Housing Lender poster will need to be updated because the FDIC is making changes. Can you tell me where I can get copies of the updated poster? Is it available in both hard copy and PDF format?