Most Popular Compliance Content
Reasons for loan policy exceptions
10/29/2023
Why do loan policy exceptions sometimes occur?
What's an Acceptable Deductible for Flood?
10/29/2023
We have a loan closing for a commercial property. The loan amount is $183,000 and the building is valued at $240,000. The borrower's flood policy is for $183,000 with a $50,000 deductible. He does not have sufficient cash on hand to handle a deductible this large. I told the lender the deductible is too high for the coverage amount, but the borrower is insisting on keeping his deductible at $50k. The lender says they are fine with the deductible being this high. Does that make this acceptable?
Is this a credit card billing error?
10/29/2023
Regarding Credit Card Billing Errors - If the bank makes a payment posting error to a credit card and within a few days through reconciliation discovers the error and makes a correction to the account, is this considered a Reg Z - Billing Error Resolution and a notice must to go out to the consumer explaining the error?
Beneficial Owners with Substantial Control—how many?
10/22/2023
Will there be more than one substantial control person for a company?
Who can access beneficial ownership database?
10/22/2023
Who can access our customer’s information? And when on this national database?