Most Popular Compliance Content
Is permission required to use ChexSystems?
02/23/2025
We use ChexSystems for deposit accounts. We have a legitimate business need/permissible purpose to run Chex on those looking to open a consumer account. Do we need to be obtaining written permission from the consumer prior to running Chex?
Retention of 314(a) records
02/23/2025
Do we need to retain old FinCEN 314(a) files? If so, for how long?
Keep Calm and Carry On
02/23/2025
There’s a lot of change going on right now, in every aspect of our lives.
Zelle – A Fast and Easy Path to Compliance Concerns
02/23/2025
The Zelle® payments network is advertised as "a fast and easy way to send and receive money." It turns out, it is also a fast and easy way for customers to lose money.
GMI Collection for a Bank, by a Broker
02/16/2025
If a broker submits an application for a multifamily loan to a bank on behalf of a mutual customer, is the broker required to collect HMDA GMI data? Say the customer "does not wish to provide" the data, would the broker need to collect the information on the basis of visual observation or surname and communicate that to the bank?