04/30/2012
As many banks are becoming increasingly sales minded, many are starting customer calling programs. Is it a violation of a customer's privacy to leave a message on a voice mail or answering machine?
04/23/2012
If we have placed a levy against an account, how does it get revoked or removed? Is there specific documents that we must receive in order to do so?
04/16/2012
Are we required to disburse a loan on the 4th day of the Rescission period? We have some lenders believing they can disburse the loan any time after the 4th day. As a result, I have run into problems such as when to date the loan on the system and what action taken date to use for HMDA reporting.
04/09/2012
We have a customer who has been in Afghanistan for the past 5 years due to their being in the military. The customer has come back to the United States and has discovered unauthorized withdrawals which took place 5 years ago - about a month after they were deployed. Are we in compliance if we deny the claim, or we obligated to pay due to fact our customer was not receiving statements to Afghanistan. The account was charged off in 2007 and customer discovered this on her credit report.
03/05/2012
If your HELOC does not have any activity or balance, do you still have to send a monthly statement to the customer?
12/05/2011
Can we pull a credit report on a customer without their consent? We have a customer who wants to consolidate some credit card debt. We told her that she needed a co-signer. She gave us her husband's social security number. Can we pull a credit report without his authorization?
08/08/2011
Is a notice from the State Attorney General's office in regard to child support (where we freeze funds and sometimes mail funds to Attorney General) considered a garnishment?
07/25/2011
Our software only supports 2 of the 3 required disclosures for private education loans. They claim that if you approve the loan within 3 days of receiving the application, that you are not required to give the customer the "application" disclosure, only the approval and final disclosures. Is this true or do I need to find the other disclosure somewhere else?
05/09/2011
Our bank would like to pre-approve certain current bank customers for a unsecured revolving line (not accessed by a card) and send them the credit agreement through the mail for signature. What would be the compliance issues with this, and furthermore, could we use their existing credit report?
05/09/2011
We flag loan accounts that need to be updated because the address on file is bad. We are looking to enhance this process by suppressing all mailings (statements, notifications, etc) to the customer until the address has been verified and updated. Are there any possible regulation violations for suppressing mailings on a loan account due to a bad address?