This program focuses on origination of closed-end loans secured by real property. It does not cover open-end credit or credit that is unsecured or secured by collateral other than real estate or a dwelling.
The FFIEC guidance on Social Media Risks applies to your bank, and if you have a social media presence, or are considering one, you must know what this guidance says and means.
Let’s take some time before you press submit to make sure you understand some of the fine points of the new HMDA, whether your institution is partially exempt or subject to the full rule, and no matter the type of institution.