Most Popular Lending Content
I think our CD Special is disclosing an inaccurate APY. It is less than the interest rate!
05/12/2024
My bank is doing CD specials a lot lately, and with rates being higher, there are now actual differences between the interest rate and the APY. I want to get it right! I’m concerned that something is wrong with our 13 month CD special (interest paid at maturity), because the APY is LESS than the interest rate. How can this be?!
Denied based on outside information.
05/12/2024
Can you provide guidance on what is considered an outside source? On the Notice of Action Taken in the Disclosure of Use of Information Obtained from an Outside Source, what would be considered an outside source. We have a customer where the denial is based on “Collection Action or Judgment” which was identified when the account officer did a search through our State’s website. Would this constitute such a disclosure and if the borrower wanted to request a copy as they have a right to would we simply give them the name of the website?
Can people under 21 get a credit card?
05/12/2024
Is it true that people under the age of 21 are not permitted to get their own credit card?
Credit analysts and document management software
05/12/2024
How can document management software benefit credit analysts?
Compliance Management: How often should I test APYs and APRs?
05/05/2024
How often should compliance be testing APY and APR accuracy? I rely on our expensive software to get it right. Is that OK?