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.
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).
On-Demand Webinars about Compliance Management and Auditing
Training is a Pillar of your BSA/AML compliance program. And there is so must to train on! A new CTR, big changes on a new SAR, new beneficial ownership rules and risk-based customer due diligence. Is your staff ready and trained?
Recorded on September 06, 2018
IRS Reporting Requirements: 1098s, 1099s, TINs and Backup Withholding
It has always been said that no job is finished until the paperwork is done, and that is certainly true for your credit union and its IRS reporting responsibilities.
Since December 29, 1987 banks have been required to develop and deliver Adjustable Rate Mortgage (ARM) program disclosures for each different ARM program offered. The disclosures must be updated at least annually.
The deadline is approaching for compliance with “TRID 2.0.” The first TRID rules left us with lots of questions, but the 2017 changes have cleared up much of the confusion, while adding a few complexities.
Providing a timely Loan Estimate can be a challenge, and making mistakes can be costly. The first TRID rules left us with lots of questions, but the 2017 changes have cleared up much of the confusion.
The Economic Growth, Regulatory Relief, and Consumer Protection Act (Pub. L. 115-174) became law on May 24, including adjustments to the Home Mortgage Disclosure Act (HMDA).
Recorded on July 11, 2018
Preparing for Examination under the Mortgage Servicing Rules: What We Know Now
Call it S.2155, the Crapo Act, the Economic Growth, Regulatory Relief and Consumer Protection Act, EGRRCPA, or Public Law No: 115-174— deregulation by any other name is just as sweet (and sour).