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Latest Compliance - Finance Charge Topics

Regulation Z Charts by Alan Dombrow

11/01/1996

Regulation Z is practically synonymous with Alan Dombrow, National Bank Examiner, who never tires of working with that Regulation.

Finance Charge Ins and Outs

10/01/1996

Regulation Z's new finance charge rule treats charges imposed by third parties as finance charges when the creditor requires the borrower to use the third party.

Violations!

08/01/1996

Some of the oldest regulatory requirements top the list of violations cited during compliance examinations.

Revisiting Disclosures of the Cost of Credit

03/01/1996

After more than a quarter century of disclosing the costs of credit, there is movement toward re-evaluating the methods used to disclose costs in the Truth in Lending and Real Estate Settlement Pro

Compliance Notes

11/01/1995

October 1,1995 was to have been a big day in the world of criminal referrals and currency transaction reporting. Simplified forms and reporting procedures were to have taken effect that day.

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Most Popular Compliance Content

Handling Late Return Claims

02/25/2024

We need an advice for below situation. 1. Our customer cashed a check for $9,230 from another bank at one of our branches on 11/21/23. 2. On 11/27/23 we received a return for this item as Stop Payment. 3. On 11/28/23 we processed a late claim returned to Fed and received the credit from Fed same day. 4. On 1/19/24 we received a late returned debit from the Fed to deal directly with the other bank. We contacted the other bank as they insisted that it wasn't a late return. How can we resolve this situation and how we can ask other bank to pay us?

Check presentment, UCC, Mobile Banking, Check 21

02/18/2024

We have a business customer who had an employee negotiate their payroll checks a second time. This employee deposited their payroll checks through a mobile channel with their bank over a year ago and then deposited them again. They cleared our customers account because our duplicate detection only goes back a year. Our customer did not reconcile or review his accounts to notice the duplicate payments and wants to hold the bank responsible. They total about $11k. We already tried returning the checks for duplicate and as expected, they were returned for "Late Return". I am looking for any input as to how we can recoup the funds? The bank of first deposit (PNC) did take in stale dated checks as well as having their customer not adhere to mobile banking terms. Any input would be appreciated.

Correctly stating APYs over the phone

02/11/2024

When orally quoting a deposit rates over the phone, if the APY is 3.00%, does the the employee need to state the APY as 3.00% or can they say the APY as 3%? Likewise if the APY was 3.50% do they need to say the APY is 3.50% or can they say the APY is 3.5%?

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