Legal Briefs

Reputation risk and theft Deposit mismatches and liability Reputation risk and theft By Andy Zavoina I think I’ve always been fascinated by “the con” and the way some people will steal, and others will be gullible. That fed a degree of interest and intrigue in me for many years and led me to a hobby of magic (where lying and …

Signage management SCRA and a new best practice recommended? The child support levy moratorium is over Signage management By Andy Zavoina As we enter the new year, let’s continue from last month on getting the little things squared away so we can focus on a new year of compliance work. Let’s talk about signage requirements. In our main branch we …

Has your bank suddenly become a HMDA reporter? Minutiae matter Joint owners’ signatures on new joint accounts Has your bank suddenly become a HMDA reporter? By John S. Burnett A recent federal court decision has lowered the loan reporting threshold for closed-end mortgage loans under the Home Mortgage Disclosure Act-implementing Regulation C from 100 to 25 closed-end mortgage loans in …

Insider Abuses Insider Abuses By Andy Zavoina Bert Lance. Many, or most of you will not know that name, but all of you know Regulation O. Briefly, this reg was implemented to prevent bank directors, executive officers, and principal shareholders from benefiting from favorable credit terms and treatment in a bank. This group we refer to as “insiders” is not …

HMDA Changes Un-Changing? Defunding the CFPB New “Junk Fees” HMDA Changes Un-changing? By Andy Zavoina As a part of your Compliance Management Program, you should meet periodically with senior management and/or the board of directors and keep them informed of changes that are or may be coming down at you. This is especially the case as we approach budget talks. …

Concerns about overdrafts and fees grow (Part 2) 2022 OK legislative changes A Reg O FAQ Concerns about overdrafts and fees grow — Part 2 By John S. Burnett In Part 1 of this article, I began a review of the FDIC’s August 18, 2022, “Supervisory Guidance on Multiple Re-Presentment NSF Fees,” issued with FIL-40-2022 (https://www.fdic.gov/news/financial-institution-letters/2022/fil22040.html). I ended Part 1 …

Concerns about overdrafts and fees grow (Part 1) Repossessions and the SCRA Concerns about overdrafts and fees grow — Part 1 By John S. Burnett Regulators have run hot and cold on the topics of overdraft programs and associated fees for well over a decade. A few landmark issuances along that rocky road were: The 2005 Interagency Joint Guidance on …

Legal Briefs Online Index

COVID coughs up and update FCRA is on the front burner COVID coughs up an update by Andy Zavoina Perhaps your staff is all back in the bank, some are travelling for summer vacation, masks are seen sparsely, and COVID-19 seems to be something viewed only in the rearview mirror. But that does not mean the pandemic is over, or …

What’s new with Reg B? – A Lot! Electronic liens What’s new with Reg B? – A lot! by Andy Zavoina In a world where Reg B has essentially been around since 1974 when Congress passed the Equal Credit Opportunity, after all these years there can’t be much new to it – right? WRONG! While it has not changed recently, …