Privacy Fallout
Privacy Fallout Everyone’s been waiting a long time for the CFPB to make the FAST Act rule concerning annual privacy notices “official” by way of regulation. Well, that happened on August 17, 2108 but there are still a few caveats. …
How does Pennsylvania’s New iLottery Affect Financial Institutions?
How does Pennsylvania’s New iLottery Affect Financial Institutions? On June 4 the Pennsylvania Lottery launched interactive games played online – computer, tablet or mobile devices – for chances to win up to $250,000. Players must first sign up for an …
Can I Stop Collecting Expanded HMDA Data?
Can I Stop Collecting Expanded HMDA Data? On July 5 the CFPB issued a press release announcing the partial exemption for institutions who originated fewer than 500 closed-end or 500 open-end lines of credit in the preceding two years. Since …
CDD/ Beneficiary Ownership – CD (Renewal) Dilemma
CDD/ Beneficiary Ownership – CD (Renewal) Dilemma Until April 3rd, institutions were allowed to risk-rate “triggering events” that would stimulate the new beneficial ownership certification. At the 11th hour, FinCEN published its beneficial ownership FAQ and sent the banking world …
CDD/ Beneficiary Ownership – CD (Renewal) Dilemma Evelyn I. Dehmey
Does a Creditor Need to Share Closing Disclosures with Third Parties?
Does a Creditor Need to Share Closing Disclosures with Third Parties? Often times as a settlement is coming down to the wire, there are pressures to share the Closing Disclosure with a realtor or broker involved in the transaction. Why …
Does a Creditor Need to Share Closing Disclosures with Third Parties Evelyn I. Dehmey
Credit Reports and Public Records
Credit Reports and Public Records As a result of a settlement between the three national consumer credit reporting companies and 30 state attorneys general (National Consumer Assistance Plan or NCAP), the credit bureaus were required to increase the accuracy of …
Impact of HMDA Changes to CRA Exams
Impact of HMDA Changes to CRA Exams On November 24, 2017 the agencies issued revisions to Regulation BB – Community Reinvestment Act – to bring consistency between HMDA and CRA definitions. The past CRA definition for a Mortgage Loan was …
ECCHO, ECK, ECI – What the “E” is happening with electronic check processing?
ECCHO, ECK, ECI – What the “E” is happening with electronic check processing? As a result of the days following 9/11 and commerce nearly coming to a complete stop, the Federal Reserve Board (FRB) realized the need for electronic check …
Cindy Tice ECCHO ECI – What the “E” is happening with electronic check processing ECK Evelyn I. Dehmey
CRA Public File – April 1 Deadline is Looming
CRA Public File – April 1 Deadline is Looming! Now that your 2017 HMDA LAR is filed (by March 1), there’s another deadline looming – Your CRA Public File must be current as of April 1 of each year per …
CRA Public File - April 1 Deadline is Looming Evelyn I. Dehmey
Do Successor in Interest Rules Apply to My Bank
Do Successor in Interest Rules Apply to My Bank? Successor in interest rules take effect on April 19, 2018 and many are still wondering if and how they apply to them if they are not a “large servicer.” A “small …