When your bank receives a claim that an ACH charge to a customer’s account was unauthorized, you have to respond correctly and your customer expects swift results.
It has been more than a few years since the Reg Z Loan Originator rules came about, and even longer since the SAFE Act requirements began. When rules and regs start to age, the rationale behind their policies and procedures are forgotten.
WednesdayApril 24, 2024
Common Compliance Violations, Enforcement Actions and Hot To
Nobody wants compliance mistakes but when they are tolerable and in moderation, you grow, you learn from them and that leads to improvement and survival in a tough world of compliance and banking.
Escrow compliance is tough. Not many rules cover such a broad scope over the full life of the loan. Escrowing touches nearly every element of loan compliance in some way: RESPA, TILA, TRID, HPMLs, Flood, and Fair Lending.
Recorded on July 12, 2023
Sweepstakes, Contests and Lotteries, Cans and Can Nots
Your problem -- a branch wants to raffle off homemade pies to raise money for a charity near and dear to the heart of those bankers. But is this a raffle, a contest or a lottery?
Recorded on June 07, 2023
Fair Lending, CRA, and Small Business Loan Data Filing
Banking compliance touches several aspects of banking – ALL of them in fact! Whether you work on the deposit side or the loan side of the bank, you have many rules to follow. Do you ever wonder why?
The short answer is that banks are special.
Mistakes happen. Even strong compliance programs can have a slip-up, and you may find your bank has wrongfully disclosed the Annual Percentage Rate (on a loan) or the Annual Percentage Yield (for a deposit product).
Banking as we’ve known it is rapidly changing. Apps, pod banking, cash recyclers, interactive teller machines, and other new technologies are affecting how we do business and offering new challenges to security.
Recorded on May 09, 2023
Overdraft Programs and Their Risk to Your Financial Institut
Overdraft services will continue to be a target for regulatory scrutiny in 2023 and financial institutions who’ve been cited can attest to the damage unchecked fee income practices can have on an organization.
During the last few years we have had the Secure Act 1.0 and Secure Act 2.0 and new regulations on RMDs and Inherited IRAs. Plus, we have a myriad of new exceptions to the 10% penalty.
How much is too much or how much is too little monitoring for higher risk customers? Can we get by with an annual high-risk review? What about our moderate-risk customers?