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#1706877 - 06/05/12 06:34 PM ECOA
Complianceking Offline
Gold Star
Joined: Dec 2005
Posts: 437
West Coast
Our Compliance department will be undergoing a bankwide review covering ECOA by our internal audit group. Is there anything I need to make sure that is addressed with respect to ECOA testing? The reason for me asking is because the new adverse action notice became effective on July 1, 2011. Therefoe, I just want to make sure that I am covering all bases. Appreciate input from anyone who has gone through the ECOA testing phase.

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#1707128 - 06/06/12 12:02 PM Re: ECOA Complianceking
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 79,931
Galveston, TX
There have been no other recent significant amendments to Regulation B.
The opinions expressed here should not be construed to be those of my employer:

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#1709140 - 06/11/12 10:32 PM Re: ECOA Complianceking
NotALawyer Offline
Gold Star
Joined: Nov 2001
Posts: 455
Double check the name and address of your primary regulator in your ECOA notice on adverse action notices. Effective date for updating to the CFPB (if it applies to you) is January 2013, but can be updated any time before.

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#1710189 - 06/14/12 12:45 PM Re: ECOA Complianceking
Andy_Z Offline
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Joined: Oct 2000
Posts: 27,546
On the Net
Is the CFPB being listed the change the OP was referring to? Otherwise I'm with Randy wondering what change they mean. Or it could be internally the bank changed its form.
My opinions are not necessarily my employers.
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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