If a financial institution has evidence a customer is kiting, is it a violation of Reg P (or anything else) if that financial institution discusses information on the account to another financial institution? The only reason for these discussions would be to prevent both institutions from loss. It would also stop a criminal from further fraudulent activity.
Does a right to rescind apply on a refinance of a construction loan with a new 1st and 2nd mortgage loan? The property has never been occupied.
The only procedures we have in place for background information on new hires is to pull a credit report and verify references.Can you please share with me some other sources/avenues that you would use in doing background checks on employees?