Your lenders and loan interviewers need to be intimately familiar with Reg B and the Equal Credit Opportunity Act’s requirements. Why? Because if they don’t know the reg and the requirements, they are quite likely to violate them.
Electronic delivery can be your virtual friend before, during and after a pandemic. It helps the bank protect relationships, save time and money and satisfy customers who want information delivered quickly.
One of the most severe penalties from a pattern of MLA violations was having a CRA rating downgraded and it just recently happened. The Military Lending Act and especially the Servicemembers Civil Relief Act are still hot issues.
Mistakes are good when you learn from them. Mistakes are great when you learn from someone else’s. Join me as we look at what examiners are finding wrong in banks so they do not find it wrong in yours.