Due Diligence For Service Providers
06/04/2001
What do we need to do to satisfy the new due diligence requirements for service providers?
06/04/2001
What do we need to do to satisfy the new due diligence requirements for service providers?
06/04/2001
Please help me understand the difference between service providers referred to in 40.13 of Reg P and providers used to effect, administer or enforce a transaction in 40.14 of Reg P. For example where would Deluxe, Clarke American, etc. fall? It seems logical that checks ordered would fall into 40.14, but I have been told that confidentiality clauses are needed with check vendors. Examples of each category would be appreciated. Thanks. By the way, am I the only one having trouble with this?
06/04/2001
Is a home equity loan considered a demand loan? Can the bank demand immediate payment at any time if you are current with your payments?
06/04/2001
When using additional income on a consumer loan application (auto loan, for example), if source is from spouse, does spouse need to be on the application? I've worked for several financial institutions and all have looked at this issue and applied it differently on a case by case basis. Need some "legal" confirmation.
06/04/2001
What is the status of the American Homeownership and Economic Opportunity Act of 2000? The last I saw on it was it was going to Clinton to be signed in December. It was to have some impact on the Homeowners Protection Act of 1998 and I would like to know if it was ever signed and if and when we will need to make any changes to what we are currently doing.
06/04/2001
When preparing the Flood Hazard Determination Form. If the Flood Insurance is not available because the community is not participating (C2), is it a violation if the Determination section (D) is not filled in because the community is not participating or does that determination still need to be made and filled in regardless?
06/04/2001
Where are funds availability notices required to be displayed. Lobby only? Drivethru? Night Depository? ATM?
06/04/2001
We allow customers 30 days to examine their statement for errors from when the statement is first made availableto them and 60 days to report any unauthorized signatures, alterations or forgeries. Is the 60 day period mandatory or can we reduce the error notification period to 30 days?