Question: Are we facing any discrimination or technical Regulation B problems if we lend through car dealers? What are our risks if the car dealers are discriminating?
If you are hoping that the Department of Justice's interest in fair lending enforcement is fading, you are headed for disappointment.
It's here. The Federal Reserve Board has signed off on proposed Know Your Customer ("KYC") rules.
by Pat Patrick, Banc One National Regulatory Compliance Division
The most frequently violated compliance requirements involve the Real Estate Settlement Procedures Act (Regulation X), a FDIC list revealed.