Most Popular Compliance Content
Advertising rates
06/05/2022
If we price HELOCs based on the applicant's credit score and loan to value ratio, so some borrowers get a lower rate than other borrowers, can we disclose the lower rate in our advertisement, or do we need to disclose both rates? Do we also need to specify the criteria for receiving the lower rate?
Check Cashing and Endorsements
06/05/2022
Can the maker of a check cash it for the payee by endorsing the back? Example: * Payee: Donald Duck, * Maker: Peter Pan Peter Pan comes to the bank on behalf of Donald Duck. Peter endorses the back of the check. Donald Duck has not endorsed the check. Peter is the maker only of the item. Can we give Peter the cash?
Limits/Reporting of Grand Opening Gifts
05/29/2022
Are there limits or reporting requirements on the dollar amount for gifts being provided to customers and non-customers attending a bank grand opening? There will be no requirements to open an account. Anyone who attends the grand opening will receive a gift. What regulation would apply to this?
Compliance Maintenance on ATMs
05/29/2022
Can you tell me the best practice or industry standard on how often an ATM should be reviewed for applicable electronic fee notice, audio output, Braille, skimmers, receipt reviews for date and time accuracy, etc.?
Rate sheet content
05/29/2022
If we have a rate sheet that we give to real estate agents and our loan originators, but we know the true use will be for them to hand it to consumers or post it where consumers can readily access it, wouldn't we need to have the APR on it?