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.
The investment of time and effort on the front end of a CRA cycle can yield notable benefits.
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 2020.