I recently heard an experienced mortgage banker say that some bank governing body (not sure which one or if it's all of them) advises against keeping an actual copy of a customer's drivers license in the loan portfolio. Instead, we should just be keeping the valuable information from the document in the file. Is this truly valid?
Where in the regulations does it state that a trust (family, corporate, etc.) is not considered a "natural person?"
I have heard that the revised regulations for advertising membership in the FDIC no longer exempt ads for loans. Is that correct, and was a similar change made to the NCUA regulations?
I need a complete copy of what Reg H says, is there a Web site that will give me details of each regulation or some other place I can look?
Deposit compliance doesn't seem to have the burning current issues that we see in lending and access to credit. However, the fee and service debate really centered on deposit-related services.