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CFPB’s Summer 2020 Supervisory Highlights

The CFPB recently released their Summer 2020 Supervisory Highlights which provides great insight into what examiners are seeing out in the field.  One of the areas addressed on the deposit side, paying a bonus under the Truth in Savings Act (Regulation DD), is...

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Regulation E’s 60-Day Rule

What if a customer comes in and says, “these transactions are not mine” and when you look into it further, you find out it has been months or maybe even years since the suspected errors occurred?  Many financial institutions believe that consumers must notify you...

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Compliance Management OnDemand

A couple of weeks ago, we wrapped up our six-part webinar series on Compliance Management.  During the six, hour-long sessions, we tackled topics such as the roles of the Board, Senior Management, and Compliance Officer in your Compliance Management System (CMS),...

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CFPB Releases HMDA FIG for 2021

The CFPB has released a Filing Instructions Guide (FIG) for HMDA data collected in 2021. Looking to 2021 already may be a bit overwhelming, but the good news here is that there aren’t any real significant changes for collecting and reporting data in 2021.  There...

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BSA Board Training

Can you believe it’s already September?  Over half the year has passed, and most likely, a lot of that time has been spent working remotely and in virtual meetings.  Given all of the time and effort dedicated to managing through COVID-19 and this “new normal”, we want...

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CFPB Proposes New QM Definition

The CFPB has released a proposed rule that would create a new Qualified Mortgage (QM) category for first-lien, fixed-rate loans meeting certain “performance requirements” over a 36-month timeframe while held “in-house”.  These “seasoned QMs” would need to have...

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Deposit Operations Overview

Regulation E is one of those deposit regulations that we consistently see a lot of errors. There are a lot of timing requirements, liability calculations, etc. to wrap your brain around. One of those is the provisional credit requirement.

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Aug. 2020 Lending Update

The Federal Reserve recently released Exam Procedures under The CARES Act. There are three sections, or modules: 1) Credit Reporting; 2) Mortgage Servicing (Single-Family Properties); and, 3) Mortgage Servicing (Multifamily Properties). Each section gives an overview of the coverage, key requirements and covered period. Even if you’re not regulated by the Federal Reserve, this is a good summary of key requirements.

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Virtual Compliance Conferences

By now you’ve probably heard our Fall Compliance Conferences are going VIRTUAL!  We are so excited to bring this valuable compliance training directly to you and that it allows us to reach new audiences! We know that your Team is spread out at various locations...

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