Legal

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, …

Please help us to help you (Part 2) Oklahoma Mini-TCPA Tit. 47 O.S. § 1110 (Perfection of Security Interest) Tit. 47 O.S. § 427A/§ 1105A (Electronic filing, etc., of Titles) – REVISED Changes in UCCC amounts effective 7/1/22 Please help us to help you (Part 2) by Andy Zavoina Last month, Pauli asked you to include certain information in your …

Please help us help you Lender credits on the TRID closing disclosure MLA and GAP Overdraft fees are not interest Please help us help you By Pauli D. Loeffler You may have missed the notice on the Oklahoma Bankers Association’s webpage regarding issues the OBA Legal and Compliance team is experiencing with emails sent to us. Regardless of the fact …

Nacha warranties and old unauthorized ACH debits P2P complaints Fair banking Nacha warranties and old unauthorized ACH debits By John S. Burnett Your bank just wrapped up its investigation of a consumer’s Regulation E claim involving a series of unauthorized ACH debits made by a gymnasium. Your customer, Sam, got a notice that the gym was being closed “temporarily” on …

The Beneficial Ownership Rule hasn’t gone away UDA(A)P is becoming all the rage! The Beneficial Ownership Rule hasn’t gone away By John S. Burnett The Corporate Transparency Act of 2021 (CTA) was enacted by Congress on January 1, 2021, as Title XIV of the William M. Thornberry National Defense Authorization Act for 2021, Public Law 116-283. It added a new …

Reg E FAQs – Part II Reg E FAQs – Part II By Andy Zavoina Last month I introduced you to the updated Reg E FAQ Guidance issued by the Consumer Financial Protection Bureau (CFPB). The FAQ is a Compliance Aid as defined by the CFPB. It is not a new rule, but guidance on compliance with an existing rule. …