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#1526729 - 03/24/11 07:57 PM
Re: FDIC Consumer Response Center
3-2-Go
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Power Poster
Joined: Oct 2009
Posts: 3,927
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Sit tight. There are a few other threads on this already; FDIC has made no formal announcement of the move. When they do, then presumably they will update the requisite documents (or a vendor will provide them).
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I hear and I forget. I see and I remember. I do and I understand.--Confucius
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#1526730 - 03/24/11 07:59 PM
Re: FDIC Consumer Response Center
Doug Hendrickson
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Diamond Poster
Joined: Feb 2008
Posts: 2,207
Deleted
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I would take a look at this thread for a similar conversation.
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#1526732 - 03/24/11 07:59 PM
Re: FDIC Consumer Response Center
Doug Hendrickson
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Gold Star
Joined: Mar 2011
Posts: 294
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They will be putting out an FIL, then updating the affected Regs, then we will have to comply. No FIL (or other similar announcement from FDIC) = No replacement of anything for this guy.
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#1526757 - 03/24/11 08:31 PM
Re: FDIC Consumer Response Center
3-2-Go
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Gold Star
Joined: Jul 2007
Posts: 305
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If I am an OCC regulated bank, what is changing in the CHARM and HELOC books that would impact my bank?
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#1526759 - 03/24/11 08:32 PM
Re: FDIC Consumer Response Center
3-2-Go
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Member
Joined: Dec 2007
Posts: 98
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Actually we just had an FDIC examiner in and she gave us the correct address and cited that we needed to change it ASAP. I will get it for you tomorrow when the boss gets back in and will tell you exactly what she said about it!
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#1526914 - 03/25/11 11:15 AM
Re: FDIC Consumer Response Center
Sheldon Hendrix
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Platinum Poster
Joined: Jun 2001
Posts: 644
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Can I bump dottiec's question ... if FDIC is not my primary regulator, do I need to update my brochures?
Thanks.
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#1526939 - 03/25/11 12:50 PM
Re: FDIC Consumer Response Center
Summer101
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Power Poster
Joined: Apr 2005
Posts: 3,663
TN
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http://www.fdic.gov/news/news/financial/2011/fil11018.htmlHere's the official FIL. Summer--no, only FDIC regulated banks per the above FIL.
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I can't herd the cats anymore, so I just set up the electric fences and let them fry when they stray out of bounds.
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#1526942 - 03/25/11 12:53 PM
Re: FDIC Consumer Response Center
Dani York, CRCM
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Platinum Poster
Joined: Jun 2001
Posts: 644
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Thank you! Just received notice of the FIL as well.
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#1527118 - 03/25/11 03:59 PM
Re: FDIC Consumer Response Center
Summer101
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Member
Joined: Dec 2007
Posts: 98
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Wow.. give us notice a whole 3 days before its effective! I'm sure they didn't just decide to move today!
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#1527522 - 03/28/11 02:15 PM
Re: FDIC Consumer Response Center
Dani York, CRCM
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Diamond Poster
Joined: Jul 2006
Posts: 1,115
Where the Green Grass Grows
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So, I'm pasting the new address on our oddly sized regulation Equal Housing notices. Can someone remind me where this notice needs to be? (ie lobby, lending area, MLO's office?)
(We gave some new people mortgage lending authority since the last address change and there is no notice in their office -- but all my other mortgage lending officers have one, and I don't know if the in the office notices are overkill.)
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#1527926 - 03/28/11 11:34 PM
Re: FDIC Consumer Response Center
Always In Training
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10K Club
Joined: Oct 2000
Posts: 27,752
On the Net
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Displayed in each bank lobby and where deposits are accepted or loans made.
You obviously need to change all that you have, assuming they are going to remain where you have them. If these lenders share a reception area, put it there, not in individual offices, if that is what you mean.
Also, it's oddly sized as a requirement. 11x14.
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AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#1528241 - 03/29/11 04:40 PM
Re: FDIC Consumer Response Center
Andy_Z
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100 Club
Joined: Sep 2006
Posts: 166
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The FIL does not mention anything regarding changing the HELOC and CHARM booklets. Does this mean we are allowed to utilize our existing stock?
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Views expressed are my own and not those of my employer.
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#1528769 - 03/30/11 02:29 PM
Re: FDIC Consumer Response Center
3-2-Go
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100 Club
Joined: Nov 2004
Posts: 101
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The FIL indicates:
"This address change requires all FDIC-supervised financial institutions to update certain consumer notices, as described below, as soon as practicable"
Is there any rule of thumb as to what period constitute the outer limits of practicable?
I'm thinking that 30 days would be sufficient, but am afraid that it may be deemed excessive.
Any thoughts re: timing?
Thanks
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#1528938 - 03/30/11 05:53 PM
Re: FDIC Consumer Response Center
ImGoinNuts
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Platinum Poster
Joined: Mar 2001
Posts: 828
USA
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I have the same question. We have been getting our brochures from the Fed and they did change the FDIC's address on the website but have not yet changed the address in the printed brochure. I believe the vendors have already updated their brochures. I think if you get your brochures from the Fed we would be ok to use what we have until they are updated. Anyone else hear anything different?
Thank you!
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#1532773 - 04/07/11 03:46 PM
Re: FDIC Consumer Response Center
Jan94
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Member
Joined: Jul 2002
Posts: 61
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I just received our posters yesterdays. Instead of 5 I ordered, I received 25. I'm not sure if this was a mistake or if they come in sets of 5. I also noticed that when I went to put one of the posters in an existing frame in a branch, it didn't fit exactly right. When I measured it, it was not 14 x 11 inches as required by regulation but instead was 14 x 10. I called the FDIC to inquire as to how to proceed since I didn't want posters displayed that are actually out of compliance. The Call Center wasn't aware of the problem, but when I was transferred to the Atlanta office they were aware of this issue. They stated new posters would be sent out. Now I'll probably get 25 more posters, 20 of which I have no use for!
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#1532851 - 04/07/11 05:45 PM
Re: FDIC Consumer Response Center
Queen Mum
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Power Poster
Joined: Apr 2005
Posts: 3,663
TN
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I mounted mine on top of the old ones, so it looks like they are the right size under the glass. cnakashige--Did teh Atlanta office indicate if they are automatically going to re-send the corrected posters? Or will we need to go back in an re-order?
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I can't herd the cats anymore, so I just set up the electric fences and let them fry when they stray out of bounds.
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#1532959 - 04/07/11 07:45 PM
Re: FDIC Consumer Response Center
cnakashige
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100 Club
Joined: Feb 2010
Posts: 121
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I just measured mine, they are 14 X 10. Also, I ordered 8 & only received 5. I was getting ready to order the remianing 3 I need, but I guess maybe I will wait.
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#1534557 - 04/12/11 07:21 PM
Re: FDIC Consumer Response Center
lilbit
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Diamond Poster
Joined: Mar 2003
Posts: 1,035
OK
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How long do we have to switch out the booklets with the new address? Can we use up what stock we have or do we need to replace the asap?
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#1534615 - 04/12/11 08:04 PM
Re: FDIC Consumer Response Center
COMPLIcated
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10K Club
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
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The announcement did not address as I recall if you could use your existing stock.
We simply printed labels to place over the address in the booklets we have in stock which is probably 250 to 300.
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The opinions expressed are mine and they are not to be taken as legal advice.
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