Most Popular Compliance Content
Joint Accounts, ITINs, and Interest Reporting
10/20/2003
We have a joint account for two individuals; one is a nonresident alien with an ITIN, the other one is a US citizen with a SSN who is an 'in case of emergency' signer. Is the interest reported on a 1042S using ITIN of primary owner or does the interest HAVE to be reported on a 1099 using the SSN of the emergencyonly signer?
Sharing Credit Report with Participating Bank
10/20/2003
Under the Fair Credit Reporting Act, can we furnish a copy of a credit report to a financial institution with whom we have a participation agreement. Example: We denied a loan that would have been a participation loan. That other financial institution wants a copy of the credit bureau report. Can we give it?
Servicing Disclosure on Denied Applications
10/20/2003
If a customer obtains a loan application, completes it, and mails it back, we decide within 3 days to deny the application, do we still need to send a mortgage servicing disclosure under RESPA?
OFAC Help on Wire Transfers - Mary Beth Guard
10/13/2003
OFAC Help on Wire Transfers
by Mary Beth Guard, BOL Guru
CIP & SSN Requirements -- Primary Payment Systems, Inc.
10/06/2003
Prior to the CIP being enforced, is it a current rule within the Patriot Act or other that we obtain social security numbers for authorized signers on a business account?