Most Popular Compliance Content
Required Home Improvement Loan Disclosures
10/28/2002
What disclosures are required on home improvement loans?
Confusion Over The New TIL For High Cost Mortgages
10/28/2002
There seems to be some confusion regarding the new TIL for High Cost Mtges that go in effect in Oct. Is this new ruling geared towards Primary residents only, or does include investment properties and if so, where can I find the verbage that states just that. I am in the state of Florida.
Policies That Satisfy USA PATRIOT Act and BSA
10/28/2002
I am new to my bank and am responsible for writing the USA Patriot Act policy. In researching this proposed regulation, I have become confused as to which policy is required by the regulators. The USA Patriot Act, the Customer Identification Program policy or the AntiMoney Laundering Act policy. Do I need to write three separate policies or can I have one policy with all three elements, etc?
Loans & OFAC Hits
10/28/2002
Under OFAC, if our loan officers are checking loan applicants for OFAC hits, and find one, are we required to decline the loan at that point? If so, what are the procedures we should follow? I find very little about lending with respect to this particular law. If we decline the loan in this case, how do we word the decline, and would it be included on the AA notice or done separately?
MMA Accounts: How do you count phone transfers?
10/28/2002
We are in the process of setting up our Interactive Voice System and the questions that came up was: Will transfers done by customers from their MMA be counted as one of the 6 transfers or is it handled as unlimited? How are other banks handling this?