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.

Banks and BSA/AML penalties

12/08/2019

Have there been any significant BSA/AML penalties imposed on banks?

IRA Dormant 5 Years- Send to Unclaimed Property?

12/08/2019

If an IRA is dormant for 5 years and the customer is 50 years old, do I need to send it to unclaimed property?

Meaning of Letters LE After Name on Check

12/08/2019

What do the letters LE mean after a person's name on a check?

Check Endorsements- John Doe by Mary Doe

12/08/2019

I have a question about check endorsements. For example, assume a check is made payable to John Doe. Mary Doe brings in check to cash and endorses it John Doe by Mary Doe. John Doe doesn't appear to be our customer. We have no way of knowing if Mary Doe has authority to sign for John Doe. Should this check have been cashed?

Disclosing A Bonus Paid Considered Interest?

12/08/2019

Is the bank required to disclose that a bonus paid will be considered interest and be reported on a 1099-Misc? Should the information be disclosed in the advertisement of a bonus?

Latest Operations - Credit Cards Topics

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