Most Popular Compliance Content
Optimizing complaint log use
04/16/2023
What is the most common way that banks record or log complaints and inquiries to have available when the examiners come in looking to see what we have?
Verifying Cashier's Checks
04/16/2023
Is there any central contact or easy way to contact larger banks like Bank of America as an example, with a telephone number to verify the validity of a Cashier's Check issued by them. Local branches typically give us "everyone is busy" or it just can't be done. How do smaller community banks verify these if not by phone?
Temporary Servicing Disclosures for Loans and Depo
04/16/2023
We have a very small subsidiary bank whose contract with its core systemes provider is not being renewed. The bank obviously needs a temporary core system until they close a new contract with another provider. One proposed solution is to onboard the small bank's 100 or so customers onto our core. We would manually process the small bank's transaction files from imported data, which our IT teams are handling. Bottom line, the small bank will retain its ABA#, but their debit cards will have to be reissued by us, the larger bank, and during the transition the cards will bear our name. My concern lies in disclosures and compliance. What disclosures do we as the larger, "host" bank need to provide to the smaller bank's customers while their accounts are serviced by us, on our system? The smaller bank is a digital-only bank.
Commercial loans are fair lending issues
04/16/2023
How does fair lending impact commercial loans, which is not “consumer protection” controlled?
UDAAP penalties are costly
04/09/2023
How much "teeth" does UDAAP really have to penalize a bank?