Vendor Guru Q&A - Operations

Electronic Management of SAR Files

Latest Operations - Credit Cards Topics

“One-click away” disclosure rule

09/08/2019

What is the “one-click away” rule for electronic advertisements?

A debt may not be a “debt”

07/14/2019

What debts may be covered now?

Privacy among applicants

06/03/2019

If credit is denied because of issues related to only one applicant, for example a charge-off, can we disclose that reason to both applicants, and do both applicants get an Adverse Action Notice?

Discrimination against the majority

05/26/2019

Has there been a case where a lender tried so hard to assist minority applicants that it had a fair lending issue with majority applicants?

Fraud Documents to Sign before Credit Back

05/26/2019

When I have fraud on an account, I send out fraud documents to the member and require they be signed and returned before we can get credit back. If the member never signs the documents and time expires to do this, does the credit union have any recourse for the member, can we charge it back to them legally or does the credit union have to take the loss? What should be done?

AAN? We don’t make those loans.

05/19/2019

Our lender had a request for a reverse mortgage. He provided an Adverse Action Notice, but did he have to, since we don’t offer reverse mortgage loans?

Do I change title on a debtor in possession account?

04/28/2019

On a debtor-in-possession account, can it be left alone as it was originally set up?

Can a bankruptcy trustee receive electronic copies of checks?

04/21/2019

Do we have to give paper checks and paper statements on bankruptcy accounts?

Current Bureau Hot Topics

04/07/2019

Based on the CFPB's latest semiannual report, what are examples of topics of critical importance to the Bureau right now?

Titling of bankruptcy account

04/07/2019

How do I title Chapter 7 Bankruptcy?

Premium Content View All

Debt Collection Practices Under Review

According to the Federal Reserve, nearly 15% of all credit reports (encompassing an estimated 30 million consumers) contain debt collection activity.

Unbanked Students at Greater Financial Risk

A strong correlation exists between affiliation with a bank and better student financial behaviors, according to a study by EverFi for Higher One.

Can cashier’s checks be converted to ACH?

10/20/2019

We paid an ARC entry that was created from our cashier’s check. We’re concerned the original check might also be presented. Can we stop payment on the check?

How expensive is a fair lending violation?

10/20/2019

Can fair lending violations be expensive?

Timing of electronic disclosures.

10/20/2019

The loan estimate must be delivered or placed in the mail not later than the third business day (general rule) after receipt of the consumer's application. As long as you can document that the email was sent not later than the third business day you will be fine.

Private ATM withdrawals on CTRs

10/20/2019

If we have a customer have a private ATM withdrawal put them over $10,000 do we complete a CTR?

FBI, DEA….who can get supporting documentation?

10/20/2019

Who can receive supporting documentation?

Latest Operations - Credit Cards Topics

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