
ABA Regulatory Compliance Inbox: If my bank reduces the amount of a customer’s HELOC, are we required to provide an adverse action notice?
And: Must banks include a printed version of their “HMDA Disclosure Statement” in their CRA public file?
And: Must banks include a printed version of their “HMDA Disclosure Statement” in their CRA public file?
The FDIC this month is launching a new “Banker Engagement Site” through its FDICconnect web portal, with the site functioning as the primary tool for exchanging examination planning and other information for the agency’s consumer compliance and Community Reinvestment Act activities.
And if a bank reports consumer deposit accounts to a “specialty” consumer reporting agency such as ChexSystems, is it required to follow the direct dispute provisions in the Fair Credit Reporting Act?
What if the consumer never requested that the bank stop payment but submits a claim that the transaction is unauthorized?
If you trust your team members to take your CRA program to the next level, chances are you’ll get there.
New focuses and directions at the agencies are on the way, but a few themes have been clear and consistent.
The FDIC said today that 99% of the banks it supervises were rated satisfactory or better for consumer compliance and Community Reinvestment Act compliance, as of the end of 2021.
Creating an annual CRA strategy is an industry best practice that lets you manage your strategic priorities along with the resources available for the year ahead.
The OCC today issued a highly anticipated final rule officially rescinding its 2020 Community Reinvestment Act rule and replacing it with rules the agency adopted jointly with the Federal Reserve and FDIC in 1995.
Acting Comptroller of the Currency Michael Hsu said he “feels the urgency” to modernize the Community Reinvestment Act regulations as soon as possible.