Latest Compliance - Collection Items Topics

NSF Check for Collection-10 Day Rule

06/02/2019

We received a letter from another bank with a check for collection. It was returned to them as NSF and they would like us to collect on it. We are wondering if it is 10 business or calendar days that we as the bank needs to look?

How Long to Retain "Referral Authorization"

04/21/2019

Any idea how long we need to retain a "referral authorization" that we have between a collection agency and our customer?

Request Funds Bank from Fed-Untimely Request

12/23/2018

We just acquired a bank and there are two particular accounts on which we requested funds back from this bank through the Fed about a year and a half ago. We were denied due “to untimely request”. The funds are now part of our company and we are wondering if we can just transfer those funds to our recovery GL? I understand that we would have to document every step but how do regulators feel about something like that.

Fair Lending: From inception to collection

05/08/2016

The greatest risk of discrimination is in the credit decision, right?

Statute of Limitations On Collecting Monies

06/28/2015

What is the statute of limitations on collecting monies owed on charged off accounts?

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

Investigating a non-Reg E claim

12/22/2024

If a customer places an order online, but never receives their merchandise, do we have to investigate?

HMDA Reportable Transaction Exclusions

12/22/2024

I actually referenced these as well which is what I used to support my interpretation; however, the other interpretation I heard the reason they said they got to that was following the citations along with the HMDA reportable transaction exclusions. So 12 CFR § 1002.104(b)(2) then if you go to the citation referenced there 12 CFR 1003.2(e) then go to the 1003.3 (C) referenced there. So looking at those exclusions it doesn’t mention anything in regards to if your bank is in an MSA or not but #11 references FI that have fewer than 25 loans. Hence, that being their reasoning that the only way non HMDA banks would exclude HMDA transactions was if they were non-HMDA due to loan volume. I’m not disagreeing with your answer because that was our interpretation as well but when following the citations that they used to come up with their interpretation and can see why they would maybe think that.”

Latest Compliance - Collection Items Topics

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