Most Popular Lending Content
Define "Open-End" Credit
08/01/2005
If you are making a revolving line of credit to a consumer at a fixed rate and it is cash secured, is that considered an open-end credit?
Marketing Club Account to Young Professionals
08/01/2005
Our bank is considering a "club account" marketed towards young professionals. I know on the lending side we have ECOA and fair lending to take into consideration, what areas of potential discrimination should we consider on the deposit side? I have read the question answered by Andy Zavoina entitled Is Free Checking for 50 and older an ECOA violation? Are there other regulatory areas to take into consideration?
MICR Check Printing Extended into Mortgage Loan Processing -- Source Technologies
08/01/2005
We are currently printing teller checks using MICR laser printers behind the counter. We have been asked by our Lending Group to provide some input on deploying MICR printers in the branch mortgage departments (currently, they come to the tellers to run closing checks). We are looking for any advice on improving their process and maximizing ROI. Does anyone have experience with this?
Upcharging and Disclosing It Correctly
08/01/2005
We charge $15.00 for the credit report. Our actual charge for this fee is less than that but we include the full $15 in the finance charge (on loans other than for residential mortgages). Is this a problem? In the Itemization of the Amount Financed, should we put the Credit Reporting Agency as who this fee is paid to on the customer's behalf or should we put the bank's name?
CRA: Finally Out
08/01/2005
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.