11/14/2011
What is the address for the OCC that we should use for the ECOA Section on our Adverse Action? I am unable to find it on the OCC website. We are a Federal Savings Bank, and as of July 21st, we will be under the OCC.
08/01/2011
We have been contacted by our community to sell bracelets on our teller line. The first 100 names of bracelets sold (the tellers would track the names) will go into a drawing for $500 cash. They say it will be open to anyone and not just our clients. Why else would the person be at our teller line if they were not our client? Also, they would like to give something special to the tellers for taking on this added work. I have no idea what "something special" is. We are an OCC bank and I have read through 12 USC 25a. I say that this is a raffle/lottery. Even though we would not be drawing the name of the winner, just selling the bracelets, to me this is still a raffle. Isn't it illegal in it self to allow the bracelets to be sold on bank property? This has nothing to do with deposits or our products or having to become a client of the bank. Would you agree?
04/11/2011
I was looking at Appendix B of Part 230 of Regulation DD on BOL. The note under the sample form B-10 for overdraft fee disclosures states that "Use of dollar signs for amounts and grid format for table is required for a format to be considered “substantially similar” to Sample Form B-10." I could not find this requirement in the OCC Comptroller's Handbook or on the regulation. What is the source of this information?
02/28/2011
I once read something that stated the Equal Housing Lender logo (EHL) should be displayed anywhere a home loan application is received. Should a national bank have the EHL logo displayed on each loan officer/customer service desk where home loan applications are received or is the lobby poster sufficient?
11/01/2010
My bank offers a "second chance" checking account to consumers who have had accounts closed at other banks with charge-offs reported to a credit reporting agency. The accounts are free of maintenance and activity fees, and are covered by our overdraft payment program after sixty days if the consumer opts into it. The overdraft fees for the second chance account are $5 higher than for other checking account customers. If we don't mention our overdraft payment program in our marketing materials for these accounts, can we refer to the accounts as free?
08/09/2010
We want to sponsor a race to raise funds for local charities and to purchase school supplies for needy children. The entrants can pay a fee to enter. They'll get a shirt with the sponsors shown on it and we will pay a prize to the top finishers. Will we run into lottery problems with this arrangement or have other compliance issues?
04/12/2010
Will you explain the difference between a prequalification and a preapproval for HMDA, RESPA and OCC purposes?
07/06/2009
In Reg Z and RESPA, investment property which will not be owner-occupied is considered business purpose. I'm referring to RESPA 3500.5(b)(2) and Reg Z 226.3(a)(1). During a recent internal review, the analysts used the current OCC Handbook as their guide and it included the following exception on page 2: <i>"Exemptions (24 CFR 3500.5(b)) Transactions exempt from RESPA include loans: For which the primary purpose is business, commercial, or agricultural (definition parallels Regulation Z, 12 CFR 226.3(a)(1)). However, a business purpose loan made to one or more persons, acting in an individual capacity (natural persons) to acquire, refinance, improve, or maintain a one-to-four family residential property used or to be used to rent or lease to other persons is a covered transaction. An action by a sole proprietorship is not considered to be conducted in an individual capacity."</i> What is the authority on which OCC makes this statement of exemption in their Exam Guidebook? The regulation was written by the Federal Reserve - not OCC.
01/26/2009
I just started with a new bank. I noticed that the financial disclosure notice was not hanging in the lobby and we can not locate it. I went to the OCC website to request a new one and could not find a link. Do I just contact my examiner? If I contact the comptroller for another copy will it be an exception on our next exam?
11/24/2008
Is there any regulation preventing a bank from having a lending office only issue cashier's checks without becoming a limited servicing branch?