Most Popular Compliance Content
Adverse action reasons
02/05/2017
In regards to the check box options on an adverse action notice, as a commercial lender, I would like to add “Length of time in business is too short” as we do deny credit to many newly established companies (per our credit policy). So my question is this: Can I create my own reason or is there a specific set of reasons that I need to adhere to? Where does ‘length of time in business too short’ or verbiage to that effect fit on an adverse action notice?
Reg B Rules on Providing Appraisals/Electronic
01/29/2017
My question is in regards to Regulation B, section 1002.14- Rules on providing appraisals. Section 1002.14 (a)(5) -- Copies in electronic form --states the copies required by 1002.14(a)(1) (waiver and appraisal) may be provided electronically with customer consent. It does not state anything about the disclosure. Can the disclosure be delivered electronically?
Will my bank be exempt from HMDA?
01/29/2017
We are not sure if we will be subject to HMDA in 2018. How do we determine this?
Signing a consent order
01/29/2017
Is a financial institution required to sign a consent order?
AAN on New Account
01/29/2017
Do we give an adverse action notices when we turn down an account?