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#2139787 - 07/27/17 05:49 PM New compliance acronyms?
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
What are the latest compliance-related acronyms and initialisms you've run into?

Three for starters:

1. REMA - Reasonably expected market area
2. ITM - Interactive teller machine
3. mRDC - Mobile Remote Deposit Capture (a/k/a remote deposit)

Hint: REMA is an acronym - you can pronounce it as you would a word.
mRDC is an initialism - You spell it out. Often also called an acronym.
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#2139788 - 07/27/17 05:58 PM Re: New compliance acronyms? John Burnett
John Burnett Offline
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John Burnett
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ULI
LEI
GLEIF
(all three from HMDA 2018)
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#2139798 - 07/27/17 07:26 PM Re: New compliance acronyms? John Burnett
raitchjay Online
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There are certain ones (WWPL or whatever it is that people type), that i never use, and have to think hard about when i see them. I always just type out "provider list".
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#2139799 - 07/27/17 07:30 PM Re: New compliance acronyms? John Burnett
raitchjay Online
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I use "N.O.O." a lot.......non-owner occupied.
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#2139825 - 07/27/17 08:38 PM Re: New compliance acronyms? John Burnett
Tracey, CRCM Offline
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Gorham, ME
This is funny. We have a bet going here in my compliance area that we are attempting to not use acronyms, and if we get caught using one, we have to put 25 cents in a jar. We are going to gather all the money at the end of the year and get lunch for the department.
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#2139826 - 07/27/17 08:38 PM Re: New compliance acronyms? John Burnett
Peepers Offline
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when I used to audit loan files, fubar came up a lot
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#2139829 - 07/27/17 08:42 PM Re: New compliance acronyms? Tracey, CRCM
raitchjay Online
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Originally Posted By Tracey, CRCM
This is funny. We have a bet going here in my compliance area that we are attempting to not use acronyms, and if we get caught using one, we have to put 25 cents in a jar. We are going to gather all the money at the end of the year and get lunch for the department.


Talking (or worse, writing) about the "Truth In Lending Act/Real Estate Settlement Procedures Act Integrated Disclosures" would get old in a hurry.
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#2139836 - 07/27/17 08:53 PM Re: New compliance acronyms? John Burnett
ATLbanker Offline
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Joined: Sep 2005
Posts: 332
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You can create a shortcut in word so you type a certain set of characters and word will automatically change it to want you have specified. I believe you use autocorrect.

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#2139872 - 07/28/17 03:28 AM Re: New compliance acronyms? John Burnett
Reads Regs Offline
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The FDIC used this in a presentation on REMAs. MMT = Majority Minority Census Tract
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#2139879 - 07/28/17 11:23 AM Re: New compliance acronyms? John Burnett
edAudit Offline
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edAudit
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You are here
most of the four letter words I hear from the Compliance Officer these days I do not think are acronyms
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#2139886 - 07/28/17 12:30 PM Re: New compliance acronyms? John Burnett
NorthSouth Offline
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Joined: Jun 2015
Posts: 26
One that I hear a lot lately - SME, subject matter expert. Instead of saying the letters it's pronounced 'smee' which sounds like a smurf. Drives me crazy.
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#2139887 - 07/28/17 12:36 PM Re: New compliance acronyms? John Burnett
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We've been using FU for follow-up.
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