Most Popular Compliance Content
Comments: What Matters?
11/01/2004
You should comment when given the opportunity. But what is most important about your comment? If the letter is going to Congress, remember that Representatives and Senators are vote sensitive.
CRA and Democracy
11/01/2004
Jack Kemp, keynote speaker at PCI's annual CRA and Fair Lending Colloquium, stated that CRA is the greatest democratizer the world has ever known.
Stop Payment on a Loan Disbursement Check
11/01/2004
We recently had a check that we considered a cashier's check returned to us unpaid due to a stop-payment order. The check was issued by a bank and was drawn on that same bank. We have had several lengthy conversations with the bank the check was drawn on, but they ultimately told us that their compliance officer and their attorney told them they could stop payment on the check because it was a loan disbursement check and not a cashier's check. Does the fact that it was for a loan disbursement make a difference with regard to stop payments? There is no indication of any fraud. The loan was for the purchase of a plane and a couple of days after the transaction was completed, the bank found there was a problem with the paperwork to release an old lien on the plane.
Adding Money Laundering to Fraud Detection
11/01/2004
BANKDetect, a technology company with a line of products designed to track bank risk, has expanded its system to include identifying money laundering and other suspicious activities connected to te
Mortgage Fraud: Know Your Applicants
11/01/2004
Mortgage fraud is on the rise. The federal regulatory agencies, including FinCEN, have issued warnings or statements about their level of concern.