03/24/2024
Our Board Chairman’s daughter has opened her own business and wants a loan from us. She is on it all by herself and he will not be a guarantor. Is her loan subject to Reg O?
03/10/2024
I work in operations, and our Executive Vice President just showed up on the daily NSF report! He has overdrawn his personal checking account by $1,200. What do we do?! Can we pay it or must we return it, and must we charge him our normal fee?
03/03/2024
I thought that the CFPB came out and said that banks could no longer engage in MSAs because of a large enforcement action?
03/03/2024
To avoid Reg O conflicts, we are thinking of granting a loan to an executive officer that is secured by a CD at our bank. Does this type of collateral eliminate any Reg O concerns?
02/25/2024
Is it a problem if the mortgage brokers that we use invite some of our lenders to parties to celebrate milestones like year-end celebrations where loan closing goals were met?
02/25/2024
Who is an “Executive Officer” under Reg O?
02/18/2024
Our bank president is a signer on a local non-profit’s checking account. That non-profit just bounced a check – does Reg O come into play here? Can we pay the OD and waive the fee?
02/18/2024
Would it be considered an issue if we “favor” the loan applications that are sent to us from one real estate agency over another if they just send us more of them?
02/11/2024
Is it okay for us to share subscription services that the bank has access to with our mortgage service providers?
02/04/2024
What is the big deal with a mortgage loan originator trying to increase their sales volume by promoting the realtors that they work with and that they know also do well? Doesn’t this ultimately help everyone in the bank to do better too?