Most Popular Compliance Content
CRA vs Fair Lending Redlining
10/23/2022
Is redlining for CRA the same as redlining for Fair Lending?
OFAC checks on incoming wires
10/16/2022
When an incoming wire comes in through a bank or the Fedwire, is our receiving bank required to do an OFAC check? Don't bankers and Fedwire procedures include OFAC checks on them before the wire is sent?
Late ACH Returns
10/16/2022
We have an ACH compliance question. One of the credit unions that we audit has reached out regarding an ACH return request. They received the request on 9/1/2022; however, the effective date of the transaction was 7/22/2022. This was returned R06-Returned per ODFI's request and appears to be outside of the requirements for the time of return. The question is: 1) Does the CU have to honor this return and 2) if so, is it acceptable to honor the return via fax? We are thinking that it would need to go through the Federal Reserve?
CD loans and LMI tracts for CRA consideration
10/16/2022
Must a Community Development loan be in a low- or moderate-income tract?
Annual CRA credit for one loan
10/16/2022
Can my bank get CRA credit multiple times for the same loan?