Most Popular Compliance Content
LOC to Secure Bond for Residence Purchase Purpose
03/31/2019
Is Letter of Credit to secure a Bond for the purpose of purchasing a residence HMDA reportable?
What Regulation(s) Require the 5-in-1 Poster?
03/31/2019
What regulation(s) require the 5-in-1 poster?
Threshold for UW and Pricing Exceptions
03/31/2019
What is a reasonable threshold for UW and Pricing Exceptions for fair lending monitoring? is a 10% threshold reasonable ?
Signature Card Compliance (FDIC)
03/24/2019
We need more information about compliance when it comes to signature cards. We use add and remove forms for account owners, signers, and beneficiaries when the owner wants to make changes after opening their account rather than printing a whole new signature card that all account owners would have to re-sign. Are these compliant with FDIC requirements when it comes to distinguishing what type of insurance coverage they would have?
Reg E Type of Transfer/Type of Account
03/24/2019
Under Regulation E, section 1005.9(b), Banks are required to include the type of transfer and the type of account to or from which the transfer was made. The commentary doesn't specify how you disclose the type of account under this section (however, it does specify how to disclose this for terminal receipts under 9(a)). So, my question is, is it OK that our periodic statements just state "transfer from account XXXX" instead of specifying the account type or should it be stating transfer from checking/savings?