Most Popular Compliance Content
Freezing Future Deposits Upon Notice
01/29/2023
If an account doesn't have the entire amount specified in a "Notice of Freeze" and in this case it is from the Florida Department of Revenue, do we hold just what is in the account the day we receive the notice, or do we place a hold on the account for the entire amount of the notice thereby holding all future deposits up to the hold amount? (The Florida DOR collects taxes and child support.)
Joint Owner Dies - New Account Required?
01/29/2023
The bank has a joint checking account, husband and wife. The wife recently passed away and my husband would like to add his two children to the account. The customer thought it would be a simple process of providing a death certificate but the new accounts person said they need to open a new checking account. What is acceptable or required in a case like this to have the father and kids on one account?
State Law and HMDA Categories
01/22/2023
I have a general question about Texas Home Equity law and HMDA reporting. If under Texas law, a home equity loan is considered a refinancing or cash out refinancing regardless of whether the new loan satisfies an existing dwelling secured debt, can that be reported as a refinancing or cash out refinancing on the HMDA LAR? To my understanding, state law does not impact the reporting of loan purpose under HMDA rules. If a new loan does not satisfy an existing dwelling secured debt, should it be reported as refinancing or cash out refinancing? I’m specifically referring to the Texas A6 Home Equity loan product. Under Texas law, this product is always classified as refinancing or cash out refinancing regardless of any other definition of refinance.
Reg CC Holds on Treasury Checks
01/22/2023
Can a US Treasury check be placed on a funds availability hold and for how long?
Compliance hot buttons in 2022
01/15/2023
If Sect 1071 is a year away, why worry about it now?