David's banking career began as a field examiner for the FDIC in 1990. He later became a Loan Officer for a small bank. In 1993, he established Banker's Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker's Compliance Consulting produces.
He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the Center for Financial Training, the American Bankers Association National Compliance Schools and is a frequent speaker at the ABA's Regulatory Compliance Conference. David is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.
David and his wife Karen have 3 adult children (none of whom live at home!) & 3 cats (which Dave is allergic to). They live on a lake in Nebraska and when possible, Dave can be found fishing or in the water. David plays the guitar & piano and enjoys singing with Karen. Together they lead worship at their church.
See all Upcoming and On-Demand training
presented by David.
Areas of Expertise:
Lending & Operations Compliance Matrices
Organization Health / Culture Consulting & Training
Training the Trainer Materials
This question has come up before but I have not seen a clear answer. If the application is NOT taken face to face, how should the collection method
questions be answered for HMDA? Code 3 (NA) is only supposed to be for applications where the requirement to report the data does not apply to the
We would use code 3 on applications where it is an entity. Code 2 (not based on visual observation) would be the only choice that would make sense.
What are your thoughts?
Can a financial institution offer a current customer a gift card if they participate in an online survey that is sent to their email that we have on file? We are not soliciting a product, just wanting their opinion on our services.
There is a surplus in the borrower's escrow account, but the loan is past due. Can we apply this surplus to his loan? The surplus is $315.44 due to
decrease in his homeowner's insurance premium.
On an ag/commercial loan, if there are two borrowers, do both need to sign an extension agreement or can just one of them sign and extend a loan?
We are advertising a $125 bonus that will be paid when a customer completes a few requirements, including opening 1 of 3 various non-interest and
interest-bearing checking accounts, signing up for a direct deposit, and using our mobile banking app. I wasn't planning to disclose an interest
rate or APY to avoid the additional disclosures caused by the trigger term. However, when disclosing a bonus, the APY appears to be a requirement. I wanted to verify that we have to disclose the APY (using the term annual percentage yield) and the additional disclosures caused by this trigger term
if we are disclosing a bonus. Or, does the APY disclosure requirement for a bonus not apply if we were not planning to disclose the interest rate or
APY? Also, are we required to use the word "bonus" in our ad?
For HMDA reporting purposes: An applicant's demographic information is obtained at time of application via an online application process and the
data collected is the information input onto the HMDA LAR. But if the applicant changes the demographic info at consummation (at the title
company) do we change the data on the LAR from the data collected at application to the data collected at consummation?
When advertising a CD special on a rate sheet that will be provided to customers, and the ad only indicates the CD special product name with a
statement that says, "ask us how to open your CD special," and nothing else, but the CD special has conditions and limitations that the regular CD
accounts do not, should a bank disclose on the rate sheet what those conditions and limits are that differ from the regular CD products that are
also listed on the rate sheet?
There is a fully disclosed addendum for the special that covers the Reg DD
disclosure requirements. However, this will only be provided if the special
is opened by the customer. My concern is that if the customer only requests
the rate sheet and doesn't open the account the customer will not receive
the addendum or the full scope of the special on the rate sheet and this may
be a little misleading if the customer comes back at a later date to open
the special and they find out there are conditions to be met on the product.
Our commercial applicant submitted an application and we issued a (expression of interest) EOI / Term sheet. The loan officer is in
communication with them and is asking for items we require to underwrite the loan. It is taking more than 60 days to receive all the items. They are
coming in piece by piece. When are we required to send a notice of incompleteness? I was understanding that an NOIA would not be required since
the application is still not complete and we are working with the applicant, but others are saying it should be sent now.
For banks that provide combined ECOA-FCRA disclosures, is it standard practice to “Check the 1st Box” and provide FCRA credit score information if the decline reason is not based on the consumer report, but some other factor? (i.e. insufficient collateral, product not offered, out of lending area) Do other banks do this?
We understand that we do NOT have to “Check the 1st box” and provide credit score information if it was NOT used in making the adverse decision, but what would be the risk to provide this information in the above cases?
I have a client (a lender) who orders their credit reports from "XYZ Data" and when a loan is declined, they list Equifax on their Adverse Action
Notice (with appropriate address and phone number) and they have now been told that because "XYZ Data" is considered a reseller of credit under the
FCRA 603(u) that they should also list XYZ Data (along with its name and telephone number) on the Adverse Action Notice. Is this true?