Nov 15

Nov 15 VIDEO: Updating the Board on 1071

In this Compliance Clip (video), Adam discusses how a financial institution should update their board on the new small business lending data collection and reporting requirement rule (i.e., 1071). While the regulation doesn’t require a board update per se, there are some best practices each financial institution should consider.

Nov 1

Nov 1 VIDEO: Reopening A Closed Deposit Account

Adam Witmer

UDAAP

In this Halloween special Compliance Clip (video), Adam discusses a spooky topic: raising an account from the dead. Well, it’s not really creepy in the Halloween sense, but reopening a closed deposit account is a risky practice, and Adam discusses why, citing a recent enforcement action.

Sep 6

Sep 6 VIDEO: HMDA Rate Spread Term Not in Whole Years

Adam Witmer

HMDA

In this Compliance Clip (video), Adam explains the rules for determining the rate spread term when it isn't expressed in whole years. Adam breaks down the steps and provides clarity on how to handle these non-standard loan terms in your HMDA reporting.

Aug 30

Aug 30 VIDEO: Disclosing Fees for an Expedited Debit Card

Adam Witmer

Regulation E

In this Compliance Clip (video), Adam answers the question whether a bank's fee schedule must disclose charges for expediting a debit card. Adam explores how Regulation DD and Regulation E apply to this fee and determine if it needs to be included in the bank's official disclosures. A transcript of this video is now available.

Aug 23

Aug 23 VIDEO: Error Resolution Notices in Writing or Verbal

Adam Witmer

Regulation E

In this Compliance Clip (video), Adam addresses a common question on whether error resolution notices need to be provided in writing or can be delivered verbally. Adam dives into Regulation E and breaks down what you need to know to stay compliant when issuing error resolution notices.

Jul 12

Jul 12 VIDEO: What must be included in an FCRA Adverse Action Notice

Adam Witmer

FCRA

In this Compliance Clip (video), Adam discusses the requirements that must be included in a FCRA Adverse Action Notice. Adam talks about the specific requirements for each instance when a FCRA Adverse Action Notice is required to provided to consumers. A transcript of this video is now available.

Jun 28

Jun 28 VIDEO: When is a CTR Required

Adam Witmer

BSA

In this Compliance Clip (video), Adam answers the question of what triggers a financial institution to submit a CTR or a Currency Transaction Report. A transcript of this video is now available.

May 31

May 31 VIDEO: Ways to Identify Redlining

Adam Witmer

Fair Lending

In this Compliance Clip (video), Adam explains a number of ways the examiners may identify redlining in an organization. In addition, he breaks down the different types of comparative evidence and overt evidence that could result in redlining. This video provides a great framework for understanding how redlining could appear in your financial institution.

May 10

May 10 VIDEO: What is Redlining?

Adam Witmer

Fair Lending

In this Compliance Clip (video), Adam explains what redlining is. In particular, Adam discusses the different definitions provided by the regulators as well as the different forms of redlining. A transcript of this video is now available.

May 3

May 3 VIDEO: APR in Lending Advertisements

Adam Witmer

In this Compliance Clip (video), Adam talks about using an APR in a lending advertisement. Specifically, he discusses when an APR is and is not a trigger term for an advertisement, triggering additional disclosures.