Skip to content

Merger: Guidance on Handling Acquired Institution's Credit Card Portfolio

Answered by: 

Question: 
We are purchasing a smaller bank. My questions is in regards to the purchsed bank credit card portfolio, both consumer and merchant. I am curious where I can get get guidance into the compliance requirements on the handling of the purchased bank's portfolio.
Answer: 

Since you indicate "Credit Cards" I would definitely check out Reg Z and Reg B (The R/E regs like RESPA, HMDA, etc. do not apply.)...I don't have my book of regs with me and the online version of the Regs is too hard to pan through, but I DO know that you would be liable for most of the compliance errors in the portfolio you took over. Wish I could give you the cites they're buried there somewhere...

First published on BankersOnline.com 8/11/03

First published on 08/11/2003

Filed under: 
Filed under compliance as: 

Search Topics