FCRA notices for business applications
11/12/2017
If a denial was not based on information from the credit report, do we still need to list the credit score and key factors on the adverse action notice?
11/12/2017
If a denial was not based on information from the credit report, do we still need to list the credit score and key factors on the adverse action notice?
11/05/2017
What are the rules governing accepting checks made out to an authorized signer on a corporation into the corporation. For example I am the vice president on ABC INC. Can I deposit checks payable to me into that corporation?
11/05/2017
Are there some exemptions for FinCEN’s beneficial ownership?
11/05/2017
We use a tri-merge credit report from CoreLogic. When listing the consumer reporting agency on the adverse action notice, do we need to include CoreLogic on the adverse action notice?
10/29/2017
Are we required to retain applications or signature cards for denied deposit accounts?
10/29/2017
Do any financial institutions require annual competency tests for front line staff? We have a teller over 70 that doesn't realize her capabilities are declining. This has become more evident since our bank went to teller capture 18+ months ago. We don't want to get in trouble for age discrimination.
10/15/2017
I have a cash-out refinance with payoff of existing lien. Funds used from the cash-out are for the purpose of Purchase of homes with cash and repairing and renting them. There are no specific properties chosen. I believe that it should be reported as a Purchase transaction. I am being told by someone that is a compliance "expert" that if no property is chosen, that it should be reported as a Refinance.
10/01/2017
Adverse Action Webinar - June 21, 2017 - David Dickinson I wanted to confirm. David Dickinson said in a recent webinar that if a consumer comes into the bank to inquire about a loan and we know from the initial conversation they will not qualify and after explaining our basic underwriting guidelines we can provide them with an adverse action notice on the spot. We would no have pulled credit. We would not have discouraged them from applying. Would we use form C-1 to provide the notice? We would of course keep any documentation with the notice for retention and Fair Lending audits and risk assessments. We would also provide training to our LO's and provide them basic scripts. Am I on the right track?
10/01/2017
How does joint intent impact loans granted to a trust?
09/24/2017
Must a marquee sign that has our bank name or logo also include the Member FDIC tag?