Is a credit card account for $18,000 considered a Reg O extension of $3,000 or $18,000. Several people are saying the first $15,000 is exempt but the regulation states if it is $15,000 or less it is not an extension so would that mean the whole amount is deemed an extension or is the first $15,000 truly exempt.
I have a Reg O question. This website lists Sections 215.1-215.12, but the Federal Reserve website lists a 215.13 and 215.20-215.23. Which is correct? Were 215.20-215.23 removed?
Does the SAFE Act require us to conduct an annual audit? And if so, what is the Section of the Act that supports this? What does it say?
Who does the right of rescission apply to? If a husband and wife own a home and the husband's mother lives with them but is not on the deed, would the mother have ROR if the house was being used as collateral on a car loan the mother was applying for?
With MDIA, the regulation states in section 226.17 that early disclosures are required if the APR changes by more than 1/8%. Does the word "varies" indicate upward only or both upward and downward movement in APR?
When calculating the highest payment for the first seven year period of an HPML loan, must a balloon payment be included in what the consumer has to be able to pay?
This is a compilation of links to some of the liveliest recent threads relating to the lending compliance challenges bankers are dealing with at this time.
Is it a violation of Reg O to pay a director's check on uncollected funds without an overdraft fee?
An executive officer's spouse obtains a loan to purchase property over $100k. The property is deeded to the spouse only, but the executive officer is required to sign the mortgage due to state real estate laws. Is the credit considered an extension of credit to the executive officer, since his signature was required on the mortgage in order to pledge the property to the note?
The three banking agencies, OCC, FDIC and the FRB, have issued final revisions to the CRA regulation. The changes take effect on September 1, 2005.