05/21/2017
We were cited in our last exam for not having a permissible purpose to pull a credit report; however, I can’t find information in the regulation regarding permissible purpose. Where can I find this information?
05/21/2017
I’m developing my compliance audit plan for the upcoming year and, from a timing perspective, need to determine the amount of transaction testing to be performed. Does any testing conducted during compliance monitoring factor into my determination?
05/14/2017
I’m a small community bank and frankly don’t know where to get started. Our audit department conducts an annual compliance audit of the primary suspects, regulations E, DD, CC, D, etc. but during our last examination we were told we needed to improve our compliance monitoring system. I have a desk full of written checklists that I use for each regulation and pull these out on a periodic basis and start checking the Yes or No boxes after I have grabbed a handful of recent periodic statements, initial disclosures, excessive transaction reports, etc. to review. This is very time consuming and I wind up with a lot of checklists with the Yes and No boxes checked but don’t know where to go from here. Any thoughts on my next step?
05/07/2017
Our financial institution has noticed an increase in cases of identity theft among our customer base. What can we do to prevent this from occurring?
05/07/2017
What are the starting blocks for the development of what my annual compliance audit plan or my compliance monitoring plan for the next year in terms of regulations, products, business units, etc by the compliance monitoring program or the compliance auditing annual plan?
05/07/2017
Does BSA training have to be done on an annual basis?
04/30/2017
We have been providing the Notice of Negative Information at loan closing; however, I was told by an auditor that it is required to be provided on the notice we send when the borrower has defaulted. Is this accurate?
04/30/2017
Does my staff have to receive annual UDAAP training?
04/23/2017
Since UDAAP could occur anywhere, how do I prevent UDAAP occurrences?
04/09/2017
Do you have any advice about preparing for our next exam in light of the regulatory emphasis on UDAAP?