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Latest Compliance - Citizenship Status Topics

Temporary Residents Opening Deposit Accounts

07/03/2022

Can a bank account be opened for a non-US citizen who is here to work for 2 months with an ITIN number rather than a work purpose only Social Security Number?

Loan Denied to Illegal Alien- Adverse Action?

03/26/2007

A bank has made a decision not to make consumer loans to illegal immigrants. If during the course of obtaining information a loan officer determines that an applicant is an illegal immigrant and therefore denies the loan, is the bank required to send an adverse action notice to the applicant based on an incomplete application since not all information regularly obtained was considered, or is the bank even required to send a notice in this scenario?

Managing CIP Without Discrimination

04/01/2005

In the world of compliance, we sometimes face requirements that appear contradictory, what we like to call dueling regulations.

Vendor Guru Q&A's - Compliance

Compliance tiers for Dodd-Frank Section 1071

Data privacy & Section 1071

Batch processing vs. transaction level processing for deposits automation

Section 1071

Exception management and better audits

Resolving credit and loan document exceptions

Proactive loan exception management

Tracking loan policy exceptions

Reasons for loan policy exceptions

Audits and document management

Most Popular Compliance Content

Is permission required to use ChexSystems?

02/23/2025

We use ChexSystems for deposit accounts. We have a legitimate business need/permissible purpose to run Chex on those looking to open a consumer account. Do we need to be obtaining written permission from the consumer prior to running Chex?

Retention of 314(a) records

02/23/2025

Do we need to retain old FinCEN 314(a) files? If so, for how long?

Keep Calm and Carry On

02/23/2025

There’s a lot of change going on right now, in every aspect of our lives.

Zelle – A Fast and Easy Path to Compliance Concerns

02/23/2025

The Zelle® payments network is advertised as "a fast and easy way to send and receive money." It turns out, it is also a fast and easy way for customers to lose money.

Who’s Who at the Helm?

02/16/2025

Who’s Who at the Helm of Federal Banking Regulatory Agencies?

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