Mar 21

Mar 21 VIDEO: Authorized but Fraudulent Debit Card Transactions

In this Compliance Clip (video), Adam explains the nuances of authorized but fraudulent debit card transactions. He discusses the distinctions in liability for consumers when a scammer initiates a transaction versus when the consumer unknowingly authorizes it.

Mar 14

Mar 14 VIDEO: Adverse Action for Declined Counter Offer

Adam Witmer

Regulation B

In this Compliance Clip (video), Adam discusses the nuances of adverse action notices in the context of declined counteroffers for commercial loans. He explains the regulatory framework under Regulation B and the implications for lenders when an applicant withdraws their application after a counteroffer is declined.

Mar 7

Mar 7 VIDEO: What is a Permissible Purpose to Pull a Credit Report

Adam Witmer

FCRA

In this Compliance Clip (video), Adam discusses the critical concept of "permissible purpose" when obtaining credit reports under the Fair Credit Reporting Act (FCRA). Understanding these guidelines is essential for lenders and creditors to avoid significant legal violations and breaches of privacy.

Feb 28

Feb 28 VIDEO: Reg E Dispute Involving a Previous Merchant

Adam Witmer

Regulation E

In this Compliance Clip (video), Adam responds to a question about how to handle disputes involving a merchant that a consumer has previously used. He explains whether financial institutions can deny a dispute solely based on a customer's history with that merchant, highlighting the requirements set forth by Regulation E.

Feb 21

Feb 21 VIDEO: Flood Insurance for Buildings With Limited Utility or Value

Adam Witmer

Flood

In this Compliance Clip (video), Adam explores the topic of flood insurance as it relates to buildings with limited utility or value, focusing on a case involving a construction-to-permanent loan. Using insights from interagency guidelines, Adam clarifies the insurance requirements for properties in flood-prone areas, even when the structures may not hold significant value.

Feb 14

Feb 14 VIDEO: What is an ROV?

Adam Witmer

Appraisals

In this Compliance Clip (video), Adam provides an overview of Reconsideration of Value (ROV) in the context of residential real estate transactions. Drawing on recently released interagency guidance from key financial regulatory bodies, Adam explains the significance of an ROV and the importance of addressing appraisal bias and fair lending concerns.

Feb 7

Feb 7 VIDEO: Incorporating FinCEN Priorities into Risk Assessment

Adam Witmer

BSA

In this Compliance Clip, Adam discusses the importance of integrating FinCEN's national priorities into financial institutions' BSA/AML/CFT risk assessments, highlighting recent proposals from FinCEN and regulatory agencies aimed at updating compliance requirements. Adam provides ways on how financial institutions can proactively incorporate these priorities into their risk assessments. A transcript of this video is now available.

Jan 24

Jan 24 VIDEO: When is an FCRA Adverse Action Notice Required?

Adam Witmer

FCRA

In this Compliance Clip (video), discusses when and Adverse Action Notice is required under the Fair Credit Reporting Act. Adam provides instances when financial institutions need to furnish Adverse Action Notice to a consumer when an adverse action is taken.

Jan 10

Jan 10 VIDEO: When must a borrower receive the appraisal?

Adam Witmer

Regulation B, Appraisals

In this Compliance Clip (video), Adam breaks down the requirements in Regulation B as to when a borrower must get a copy of the appraisal used in their loan. Not only is the timeframe for delivering the appraisal discussed, Adam also covers when the appraisal delivery requirements of Regulation B apply. A transcript of this video is now available.

Nov 29

Nov 29 VIDEO: Get Ready for the July 2025 Reg CC Changes

Adam Witmer

Regulation CC

In this Compliance Clip (video), Adam talks about what you need to do now to prepare for the Regulation CC changes that will take effect in July 2025. Adam provides a short overview of the changes as well as the key steps in complying with the threshold amendments to Reg CC. A transcript of this video is now available.