When it comes to taking adverse action under Regulation B we like to say, “everyone gets a piece of paper”. For instance, if you approve an applicant’s request, they will get a loan (a piece of paper). If you deny an applicant’s request, they will get a denial notice (a piece of paper). But what about if you make the applicant a counteroffer, or need more information before you can make a decision, or say the applicant withdraws?
Listen to the video as Dave explains more.
This is exactly the sort of thing we will be covering in our “Loan Denials & Other Adverse Action Notices” webinar on June 18, 2019. We are going to get into the weeds on all kinds of different scenarios so that you have a full understanding. Best of all we will take this complicated area and spell it out for you in plain English!
Have you seen all our free lending tools? Find them here – https://store.bankerscompliance.com/link/LendingFD
David’s banking career began as a field examiner for the FDIC in 1990. He later became a Compliance Officer and Loan Officer for a small bank. In 1993, he established Banker’s Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker’s Compliance Consulting produces.
He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the American Bankers Association National Compliance Schools and has served on the faculty of the Center for Financial Training for many years. He also is a frequent speaker at the ABA’s Regulatory Compliance Conference. He is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.
David and his wife Karen have three adult children, four grandchildren (none of whom live at home!) and two cats (of which Dave is allergic … the cats, not the children!). They recently moved to an acreage outside of Lincoln, Nebraska where he gets to play with his tractor. When possible David can be found fishing, making sawdust in his shop, or playing the guitar and piano. He also enjoys leading worship at his church.