Latest Compliance - Policies Topics

JULY
July 1, 2000 - This is it for implementing the new exemption procedure.

JUNE

FNMA is shouldering the hefty burden of setting standards that define predatory lending - so it can refuse to buy loans that reflect predatory practices.

The most recent fair lending development comes, not from the U.S. Department of Justice ("DOJ") but from a "friendly" regulator, the Board of Governors of the Federal Reserve System ("FRB").

Question: I'm concerned about your answer to the different hold policies. I'm a little concerned that banks could have hold policies that have service disparities for CRA purposes.

The debate about whether year 2000 is also the beginning of a new millennium is telling.

You have two months to get your HMDA report entered, checked, corrected, and sent in. And that's on top of all the Y2K activities.

In the past 18 months, the bank and thrift regulatory agencies have given detailed guidance on what institutions should do to protect customer privacy and have specified what policies and procedure

It isn't a regulation yet, but the message is clear.

by Dana Turner