Are You Aware of NACHA’s New Registry Requirement? NACHA is implementing a new registry, the ACH Contact Registry, for all financial institutions involved in ACH operations. The purpose of the new registry is to allow financial institutions to interact with …
WHAT IS TIME-BARRED DEBT AND HOW DOES IT AFFECT MY BANK? On February 21, the CFPB announced a proposal to amend Regulation F – Fair Debt Collection Practices Act (FDCPA) by requiring debt collectors to make certain disclosures when collecting …
Evelyn I. Dehmey WHAT IS TIME-BARRED DEBT AND HOW DOES IT AFFECT MY BANK
Are you ready for the SECURE Act of 2019? The SECURE Act (The Setting Every Community Up for Retirement Enhancement Act) of 2019 will affect most retirement savers, for better or worse. This act has changed the required age in …
DISTINGUISHING “ABUSIVE” PRACTICES Many leading articles on the subject of the CFPB’s release of its position on “abusive” acts or practices proclaim that the CFPB has defined “abusive.” This is simply not true. The Dodd Frank Act already defined “abusive” …
WHAT’S IN YOUR LOAN REVIEW? Whether you’re a small community bank or a large regional bank, you should have a credit risk review function to analyze individual loan quality and to provide analysis of your entire portfolio quality. On October …
CRA TRACKING FOR PANDEMIC LOANS While we’re in the throes of the Covid-19 pandemic, the one thing we don’t need is more work. But it is an important season to think about how loan programs and modifications can work to …
There is seemingly no better time to scheme and scam than in the midst of a pandemic. On May 18th, FinCEN released an advisory regarding the uptick in reported activity related specifically to fraudulent cure, vaccine, and testing services; non-delivery …
MPF Policy Updates Related to COVID-19: Are You Perpared? On May 6, 2020 MPF released a policy update and clarifications to previous policies in place during the COVID-19 epidemic. Application dates through June 30, 2020 (previously May 17, 2020) are …
MPF Policy Updates Related to COVID-19: Are You Perpared? Natalie Reifsneider
US Secret Service Releases Guidance on US Stimulus Check Features In conjunction with the US Treasury, the Secret Service launched the “Know Your US Treasury Check Campaign” on April 20, 2020 to ensure citizens, retailers, and financial institutions can identify …
Julie J. Mixtacki US Secret Service Releases Guidance on US Stimulus Check Features
SAVINGS ACCOUNTS AREN’T SAVINGS ANYMORE? When the FRB lowered required reserve requirements for checking and savings accounts to zero percent on March 26, it set off a host of questions about how that action affected checking and savings account definitions. …