Loans Require Deposit Account
11/03/2024
To get an auto loan our credit union requires the person to be a member. This requires a deposit/share draft account. Is this an allowable requirement to qualify for a loan?
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Questions Answered
Does E-SIGN consent cover future loans?
09/08/2024
When a borrower consents to do business electronically and the loan pays off and at sometime in the future he applies for a new loan, do we have to get a new consent to do business electronically?
New CRA Officer - Help
07/30/2023
I was just made the banks CRA Officer. I know what CRA is but, I have no clue what the heck I am doing. What should I do first, second and third and for the long term?
After a loan is rescinded
07/30/2023
If borrower rescinds a loan, what loan documents must be kept and how long does the bank need to keep them?
Consumer loan accrual methods
07/09/2023
What Interest accrual method used on consumer loans?
LOS Can't Handle the Terms
07/02/2023
Our customer is requesting a closed-end draw down loan secured by stock for college expenses for a grandchild. Our Loan Origination System does not have the capabilitry of calculating repayment term disclosures for draw down lines of credit. Can we even proceed with this Private Education Loan as requested by the customer? There is no exception for draw-down loans, but disclosure requirements cannot be met.
Accurate List of Finance Charges
06/25/2023
I am trying to find a list that shows what is and what is not a finance charge. We have used https://home.docsdirect.com/resources/tools/finance-charges but see that there a several inconsistencies on here. Is there an accurate list available?
Required CTR Exemptions
06/04/2023
Are banks required to exempt customers for CTR filing limits? I've worked for banks in the past that never exempted anyone. We just filed CTR's on large cash transactions. So in short is there a regulation stating that banks need to exempt customers, or why is it done?
Restrictions on Payment Date Changes
11/27/2022
Is there a regulation addressing the changing of payment due dates on installment loan? I'm not sure if this is federally regulated, state, or both. Is there a limit on the number of times customer can request, and the length (number of days) it can change?
Reg Dictating Interest Basis for a Second Mortgage
02/06/2022
What regulation dictates the interest basis for a second mortgage?