Bio:
Rebekah is the owner of Elucidate LLC, a compliance training and consulting company. Elucidate means to "make clear, explain, throw light upon", and describes Rebekah's desire to illuminate the complexities of compliance with passion and fun. She's created and produced a TRID music video parody and several Compliance Breakout escape rooms, which she frequently provides at state banking compliance conferences. She is an accomplished speaker and regularly provides webinars through BOL and Compliance Resource.
Rebekah is currently serving as the VP Director of Compliance for a $6 Billion community bank in Montana. She began her career in 1995 at a private lending company, but soon settled into banking, where she's covered nearly all of it - customer service and teller work, loan processing and review, and security and business continuity. She now oversees CRA, BSA and all aspects of compliance as a senior leader. She has successfully navigated numerous FDIC Compliance, CRA, and BSA Exams.
Rebekah has a bachelor's degree in Organizational Leadership from Chapman University (Magna cum Laude), attended the American Bankers Association National Compliance School in 2003, and has held her Certified Regulatory Compliance Manager designation since 2006.
Questions Answered
05/12/2024
My bank is doing CD specials a lot lately, and with rates being higher, there are now actual differences between the interest rate and the APY. I want to get it right! I’m concerned that something is wrong with our 13 month CD special (interest paid at maturity), because the APY is LESS than the interest rate. How can this be?!
05/05/2024
How often should compliance be testing APY and APR accuracy? I rely on our expensive software to get it right. Is that OK?
04/28/2024
We have significantly reduced our overdraft fee pricing for consumer checking accounts. However, we have left the business account pricing alone. This is OK, right, since the focus of unfair overdraft fees has been on consumer protection?
04/28/2024
If we find a loan’s APR is outside of tolerance, can’t we just send a new disclosure showing the correct APR to fix this inadvertent error?
04/21/2024
I keep hearing about junk fees everywhere. I work on the loan side, though, and it seems like everything is on the deposit side. Is there anything I need to be aware of for loan fees?
04/21/2024
An auditor just told us we have an APR violation on a TRID loan, and we need to make restitution to the borrower. Don’t we need to send a corrected Closing Disclosure too?
04/17/2024
May we charge a monthly “Returned Mail” fee on our customers who have bad addresses that return mail as undeliverable?
04/14/2024
Does the NMLS ID# number need to be included on HELOC agreements and Deeds of Trust / Mortgages?
04/07/2024
We have a small credit card program and portfolio. Do we need to lower our credit card late fee to $8?
04/07/2024
I’m so confused! I’ve heard conflicting advice: that Mortgage Loan Originators do and do NOT have annual training requirements. I thought Reg Z required it, but I have MLOs pushing back. Help!
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