Vendor Guru Q&A - Lending

Latest Lending - Overdraft Charges Topics

Max Fee for NSF Check Returned for CC Payment

09/22/2019

What is the maximum fee allowed for a NSF check which was returned for a credit card payment? And is there a maximum fee for late charges for credit cards?

Electronic Right of Offset

08/20/2007

Our lending operations department (not credit card) would like to initiate an EFT through our third party vendor to debit our customer's deposit account to exercise our right to offset for amounts owed on our customer's loan. Our deposit account terms and conditions discloses our right to offset any amounts owed to the bank. We know that generally Reg E, Section 205.3 (c)(5) would allow the bank to electronically transfer funds between a customer's accounts without the customer's specific request under certain circumstances and that the official commentary provides that this exception to Reg E includes the right to initiate "electronic debits or credits to consumer accounts for check charges, stop-payment charges, NSF charges, overdraft charges, provisional credits, error adjustments and similar items that are initiated automatically on the occurrence of certain events." In order to exercise our right to offset electronically, the transaction will need to be processed through our third party vendor. Do we have any Reg E or other regulatory concerns in doing so?

Premium Content View All

Summertimeand the Livin' is Full of Deadlines

In the aftermath of a flurry of new consumer aimed legislation and regulations, deadlines for changes required by the enactments, rules and regulations fall at the height of the summer season.

Credit Card & Overdraft Fees Under Attack: Consumer Groups and Congress Demand Changes

The Government Accountability Office (GAO) released a report in October 2006 analyzing credit card fees, interest rates, and disclosure practices by major credit card issuers.

Best Practice for Saving Emails into Document Management System

10/25/2020

What’s the best way to collect and organize important emails in our document management system?

Escrows, more than dirt

10/25/2020

While auditing a mobile home loan I saw escrow statements. Isn’t this unnecessary since RESPA doesn’t apply when we don’t have real estate as our loan collateral?

Reg B and Small Business Lending

10/25/2020

I am looking to find what aspects of Reg B are applicable to small business lending. I am creating a line by line assessment and am curious if something like this exists.

State's Public Records-Record Retention

10/18/2020

We want to know if there is a vendor or website our bank can utilize to quickly retrieve public records online from various Secretary of State offices, tax cards & tax bills to pay escrowed taxes, retrieve recorded real estate docs i.e. recorded Warranty/Quitclaim Deeds, MTG-DOT and AOR's. The majority of states have their records available online but behind a paywall where you have to pay for each individual page of each document. There's 25+ of us between Lending, Legal, and Compliance that need access at our bank to these docs. In my previous banking career, we utilized a website called NETRONLINE.com with a paid subscription but it appears it is no longer available. Is there a substitute?

Transferable Letter of Credit Precautions

10/18/2020

Please explain the precautions which should be used when issuing a transferable letter of credit.

Latest Lending - Overdraft Charges Topics

Pages

hot right now