EMV and the Bank
EMV AND THE BANK What’s EMV? It’s the acronym for “Europay, MasterCard, and VISA”. It’s the card chip technology and information security that went into effect on October 1, 2015 as a requirement of card vendors and not as a …
Trid in the Rearview Mirror
TRID IN THE REARVIEW MIRROR! Now that implementation is history and banks have a few TRID loans under their belts, it’s time to circle back and make certain that all the bases are covered. You’ll want to be well prepared …
THE BEST DEFENSE IS A GOOD OFFENSE!
THE BEST DEFENSE IS A GOOD OFFENSE! Are you prepared to defend your “reasonable procedures” as a “Furnisher” of credit report information? There has been a recent rash of court cases involving “furnishers” of credit report information: The New York Attorney …
What does the Military Lending Act have to do with “Customer Due Diligence”?
What does the Military Lending Act have to do with “Customer Due Diligence”? The Department of Defense released its Military Lending Act final rule on July 22, with much of it becoming effective on October 1, 2015 with mandatory compliance …
Consumer credit Evelyn I. Dehmey Military Lending Act What does the Military Lending Act have to do with “Customer Due Diligence”?
Finally! Flood Insurance Interagency Regulations
Finally! Flood Insurance Interagency Regulations! First there was the Biggert-Waters Flood Reform Act of 2012 (BWA)! At the 11th hour for implementation, there came the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA) that modified some of the elements of …
New Acronym Language: IMD – TRID – AP – AIR – TIP – MIC. Do you know the new language?
June 18, 2015 – TRID rule to be postponed two months Consumer Financial Protection Bureau Director Richard Cordray issued a statement late yesterday afternoon announcing that the Bureau will issue a proposed amendment to delay the effective date of the …
Did You Know It’s Illegal to Photocopy a Military ID
Did You Know It’s Illegal to Photocopy Military ID; How to Comply with CIP Requirements? Many institutions include military identification cards as a primary form of identification for meeting the Bank Secrecy Act (BSA) standards for a Customer Identification Program …
Did You Know It's Illegal to Photocopy Military ID; How to Comply with CIP Requirements Evelyn I. Dehmey
Mortgage Loan Originator Blunders
Mortgage Loan Originator Blunders The mortgage reform that took effect in January 2014 now requires that Mortgage Loan Originator identification be included in 3 documents: Credit Application; Note or Loan Contract; and Security Instrument (Mortgage). These documents must identify both …
Evelyn I. Dehmey Mortgage Loan Originator Blunders mortgage reform