Legal Briefs

Advertise this way, everyone is doing it! Trust documents Advertise this way, everyone is doing it! By Andy Zavoina Penalties: In just over a month we heard of not one, two, or three cases of the Consumer Financial Protection Bureau (CFPB) enforcing advertising requirements on mortgage lenders, but four. Let’s cut to the chase for a recap of these enforcement …

Fair Lending—in the News and on Your Radar Fair lending and HMDA Fair lending and CRA Paycheck Protection Program Bank of America – disability Townstone – redlining Fair servicing The CFPB’s RFI Fair Lending—in the News and on Your Radar By Andy Zavoina It is not a huge surprise that enforcement actions have lessened from 2019 to 2020, but are …

Mortgage maturity date, 46 O.S. § 301 Appraisal update Reg E error claims and ‘unjust enrichment’ HMDA thresholds More on the death of savings transfer limits Mortgage maturity date, 46 O.S. § 301 By Pauli D. Loeffler One of the more frequently asked questions the OBA Legal and Compliance Team receives concerns when a Notice of Extension/Modification of Mortgage must …

Coronavirus Compliance Changes Changes in UCCC Amounts Effective 7/1/20 Coronavirus Compliance Changes By Andy Zavoina We are in a much different compliance environment than we were when the calendar went to 2020 – or are we? I want to highlight some recent rulings that have come down from the regulatory agencies so that you can see that the agencies are …

Work “after” the coronavirus Information on Oklahoma campaign accounts Are savings transfer limits dead? Work “after” the coronavirus By Andy Zavoina Whether you call it the new normal or the abnormal, as bankers we are really in new territory. Sometimes it is akin to walking into a dark room and feeling your way around and then learning someone is still …

Coronavirus and Assisting Customers Modify Policies—COVID-19 addendums Assisting borrowers New loans Loans past due or about to be Limits on fee, penalties and interest Regulatory reporting Credit bureau reporting Coronavirus and Assisting Customers By Andy Zavoina (with Pauli Loeffler) There is a risk balance that banks must follow so that in six months or at your next exam, you will …

Corona virus and banking Management’s actions Update Education Resonsibilities Travel Security IT Vendors Military lending update Perfecting a security interest on a trailer Tax season information in Legal Briefs Coronavirus and banking By Andy Zavoina Let’s first set the stage for our discussion on the coronavirus. The coronavirus is a large family of viruses that range from the common cold …

Index to Legal Briefs now online “Abusive” UDAAP Update – Policy Statement Compliance Aids – Policy Statement SECURE Act and IRAs LIBOR – Transition Plans HMDA Guides Index to Legal Briefs now online by Pauli Loeffler There are 15 years (January 2005-January 2020) of OBA Legal Briefs articles available on the OBA’s website. These articles are like an all-you-can-eat buffet …

New Home Buyer Savings Account CFPB Supervisory Highlights UDAAP & GAP Credit cards Credit reporting (furnishing) New Home Buyer Savings Account By Mary Beth Guard I don’t recall what the last straw was with apartment living, but whatever it was spawned a very strong “we need to get our own house” feeling.  I may or may not have painted the …

These OREOs are no treat! Privacy: It’s for bank info, too Managing returns of duplicate payments These OREOs are no treat! By Andy Zavoina The Office of the Comptroller of the Currency (OCC) issued an enforcement order against Citibank, N.A. in October 2019 and imposed a $30 million civil money penalty because it violated the holding period allowed for the …