Self-identified flood issues… in the clear for the next exam?
10/15/2023
We had a rather big flood compliance issue, but we self-identified it and are correcting the problem. Is that enough to keep us out of hot water at our next exam?
Rebekah is a sought-after compliance expert, the VP Director of Compliance for $6 billion community bank in Montana, and the owner of Elucidate LLC.
Elucidate means to "make clear, explain, throw light upon", and describes Rebekah's desire to illuminate the complexities of compliance with passion and fun. She's created and produced a TRID music video parody and several Compliance Breakout escape rooms, which she frequently provides at state banking compliance conferences. She is an accomplished speaker and regularly provides webinars through Compliance Resource, LLC.
Rebekah is currently serving as the VP Director of Compliance for a $6 Billion community bank in Montana. She began her career in 1995 at a private lending company, but soon settled into banking, where she's covered nearly all of it - customer service and teller work, loan processing and review, and security and business continuity. She now oversees CRA, BSA and all aspects of compliance as a senior leader. She has successfully navigated numerous FDIC Compliance, CRA, and BSA Exams.
Rebekah has a bachelor's degree in Organizational Leadership from Chapman University (Magna cum Laude), attended the American Bankers Association National Compliance School in 2003, and has held her Certified Regulatory Compliance Manager designation since 2006.
10/15/2023
We had a rather big flood compliance issue, but we self-identified it and are correcting the problem. Is that enough to keep us out of hot water at our next exam?
10/15/2023
I'm somewhat new to identifying CRA qualifying donations and am looking for opinions on whether I should or could try to include a contracted annual donation to our County Economic Development Group. This CEDG is a non-profit and their mission statement lines up with the Revitalize and Stabilize category. Our marketing director indicated that the funds are considered a sponsorship and doesn't think it would count. We do get an acknowledgement on their website as being a sponsor so to that affect I'm assuming she is viewing it more as advertising for her reasoning to not include it. Our name being included on the website is in acknowledgement of our level of donation and the funds are a general investment into the organization. It is not a specific advertising expense. We have included one off donations to this group throughout the years but apparently have never considered adding this sponsorship donation to the list of qualified donations. Would it qualify as described or could it qualify if we had any stipulations as to funds use?
10/08/2023
Aren’t HELOCs exempt from flood insurance requirements?
10/08/2023
Our bank does not report business purpose loans to credit bureaus. If we have an address discrepancy on a credit report pulled for an individual, but the loan is business purpose, are we obligated to furnish the borrower's address under Reg V, once we have reasonably confirmed it as accurate?
10/01/2023
We have a HELOC secured by a home in a flood zone. We are holding a junior lien behind another lender. How much flood insurance is needed?
10/01/2023
If a bank mails out a Cashiers Check as proceeds on a loan and that Cashiers Check is lost, who signs the Indemnity Bond for Lost Instruments? Would the bank (purchaser), customer (who asked for the loan and to pay the different merchants) , or the credit card company (Payee)?
10/01/2023
We are looking for a good product for recording and analyzing fair lending and CRA compliance. Are there any companies that we should be looking at? We understand BOL and the gurus can’t endorse any one product but would like to know what products the OCC and other regulatory agencies use as that would certainly be of interest. Is there any products not "recommended" but thought of highly?
10/01/2023
When quoting loan rates to customers in person or on the phone, what do tellers/bankers need to say? And ff the banker has an NMLS number, what can they quote and must they state theit NMLS?
09/25/2023
Since MasterCard’s Zero Liability covers ATM withdrawals and PIN transactions. It is even worth investigating Reg E claims since we are always on the hook?
09/24/2023
Is flood insurance still required on a loan where the balance has fallen below $5,000?