Most Popular Compliance Content
ROR Applicable on a Fed Reserve Holiday?
03/17/2008
If we are open on a holiday in which the Federal Reserve is closed, can we use that day as one of the three days we must provide the borrower under Right of Rescission?
Reg D Limits -When is a Transaction a Transaction?
03/17/2008
Reg D limits savings account automated/ACH type transactions to six per month. In the case of NSF ACH items returned, does transaction mean transactions attempted or transactions completed? Do items returned not paid (NSF/stop payment) count against the six transactions?
Compounded CD - APY Disclosure
03/17/2008
Do you have to disclose an APY based on compounding when the customer requests a monthly interest check on a CD?
Reporting on an Application Withdrawn/Closed Loan
03/17/2008
An initial application was taken in February and withdrawn in March, so we reported it as withdrawn. In November of the same year it was activated and then closed in December. Do I now report this a closed loan in addition to the withdrawn or delete the withdrawn and only report it as closed?
Bank Statement Returned Mail Compliance
03/17/2008
I am looking into compliance around returned mail for bank statements for DDA, SDA, CDs and IRAs. Are there laws out there stating we must retain the original statement sent if it is returned to us in the mail? How many times must we try to contact a customer if we get notice of returned mail?