Latest Lending Topics

Question: How should we assess for fair lending if we are using mortgage brokers to originate some of our loans?

Question: We have a lot of compliance policies. Some board members have questioned whether we really need all these policies.

Question: Are we facing any discrimination or technical Regulation B problems if we lend through car dealers? What are our risks if the car dealers are discriminating?

If you are hoping that the Department of Justice's interest in fair lending enforcement is fading, you are headed for disappointment.

It's here. The Federal Reserve Board has signed off on proposed Know Your Customer ("KYC") rules.

Before selling securities to a consumer, the broker/dealer should determine the suitability of the product for the consumer.

The most frequently violated compliance requirements involve the Real Estate Settlement Procedures Act (Regulation X), a FDIC list revealed.

Remember the days when we all called it "consumer compliance"? There was the Consumer Credit Protection Act and all those stories about consumers who needed help.

Dr.

The OCC recently posted its third quarter CRA ratings. Of 63 banks examined, 10 earned an Outstanding and 53 earned a Satisfactory. The Outstandings are spread throughout the nation.