Most Popular Compliance Content
New HMDA Sign
02/09/2004
When do we have to change the language on our HMDA notice in the lobbies of our branches to include ethnicity? Logically, the data collected in 2004 is the first to show ethnicity so I would think the notice language is changed to include that in 2005, when that data is available. I have found no source for new posters or even for the language other than your Guru Speaks about HMDA...any help would be appreciated. Thanks!
CIP and Savings Bonds
02/09/2004
Do we need to verify identity under our CIP procedures for a customer purchasing or redeeming US Savings Bonds?
Recission Rights Upon Modification
02/09/2004
I have a matured real estate loan that I am going to modify the payment amount and the maturity date. I intend to leave the accrued interest as is, as well as the late charges that have accrued on the loan. Do I need to give the customer a right of recission, since this is their primary residence?
Signature on Adverse Action Notice
02/09/2004
I have reviewed Regulation B to see if and Adverse Action Notice requires a signature on the document to meet the requirements of compliance and auditors. We do put our bank information, address and phone #, but the partiy that completes them has not being signing the form.
CTR When Cashing Checks for Others
02/09/2004
With regard to the multiple person section of the CTR, is it necessary to file a CTR for an indivudal who presents with checks to cash for others, when no single check is in excess of the requirement, but the aggregation is? Does it make any difference if the person transmitting the funds on behalf of others is employed by the check factor or buyer?