Which regulator issues the most enforcement actions?
The CFPB hasn’t been active in fair lending other than mortgages, correct, does this present any challenges?
What features should we look for in an exception reporting system?
We have a loan that we are working on that is a purchase of a second home. The borrowers are son and daughter in law and mom. Son and daughter in law live in Michigan, mom lives in Florida. * How do we get the closing papers signed and what should they be dated? * Do we send two closing packages, one to each and then combine them, or send one closing package and have the son and daughter in law forward to mom? * Can they date the documents before the closing?
For financial institutions offering credit cards to businesses and consumers that are issued and handled directly by the FI and are not outsourced or monitored through a third party, how are other FI's monitoring their credit cards in regards to AML? Are they monitoring them through reports and/or a monitoring system or both?