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?
GMI Collection for a Bank, by a Broker
02/16/2025
If a broker submits an application for a multifamily loan to a bank on behalf of a mutual customer, is the broker required to collect HMDA GMI data? Say the customer "does not wish to provide" the data, would the broker need to collect the information on the basis of visual observation or surname and communicate that to the bank?
Who Gets the Adverse Action Notice?
02/16/2025
Our denial of a business deposit account application was based on the qualifile score of the individual applying for the business. Who gets the Adverse Action Notice?
Who’s Who at the Helm?
02/16/2025
Who’s Who at the Helm of Federal Banking Regulatory Agencies?