Latest Compliance - Disclosures Topics

Program disclosures for adjustable rate mortgages and home equity lines of credit must be updated annually. The historical example must be updated and must also reflect the terms of the contract.

[Date]
William W. Wiles           RE: Docket No. R-0942
Secretary
Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue, N.W.

Question: When an applicant changes their loan request while the application is being processed, must we provide a new good faith estimate or is the one we provided when the application was

As more and more banks develop a home page on the internet, they are finding that there are some interesting compliance aspects of banking in cyberspace.

The Home Ownership and Equity Protection Act of 1994 requires the Federal Reserve Board to adjust the total amount of "total points and fees" paid by the borrower that triggers the additional discl

In keeping with its annual schedule for updating the Regulation Z commentary, the Federal Reserve Board has proposed revisions to the commentary.

Congress has passed a new "Burden Relief ' act that will keep regulators and compliance managers busy for the next several years.

The big hope the industry had for major changes to Truth in Savings did not happen in the burden relief bill. Only minor changes actually passed.

Buried in the Equal Credit Opportunity title of the Consumer Credit Protection Act, sits a provision which requires the Federal Reserve Board to establish a Consumer Advisory Council ("CAC") to adv

Reports of violations from consumer compliance examinations can provide insight into the troublesome areas of deposit regulations.