The Compliance Cohort is a resource for compliance professionals in banks, credit unions, and any of the other trenches where compliance folks dwell. Being compliance professionals ourselves, we personally recognize the importance of easy to understand compliance resources. Not to mention, being able to easily access the information you need, when you need it.
Our channel gives you access to our Compliance Clips - our short training sessions on a specific topic of regulatory compliance.
I have an application that was submitted by the borrower but with a missing property value. We did not underwrite the loan or provide a decision of any kind because the borrower expressly withdrew. Due to the missing value- is this reportable under HMDA?
Thanks for summarizing this. However, if a notice of incompleteness is sent and applicant doesn’t respond within specified time, the application is denied with denial reason as credit app incomplete, is it safe to say that an AAN is still required to be sent out?
Can you provide examples to the regulations you’re speaking about. I found this video to be good in stating the purpose behind the meaning, but no real world examples had been provided to create a working understanding.
I have a transaction issue like EFTA from my accounts and didn’t reach to the persons cause I put different account number and A bank they don’t work with
Hey there. I have a question not related to this vid. It's regarding Reg B/ECOA and electronic adverse action. Do you have a video out or can you refer me somewhere where I can find out if the requirements for mail and electronic adverse action notices are the same? I specifically looking to find out about requirements to send the adverse action vs. Requirements of a successful delivery. I believe if a letter is mailed and it's returned because the client has moved it's not required that the client be tracked down for successful delivery. Is it the same for electronic delivery? What if the letter sent by email fails? Are banks required to track the customer down? How does that work?
So despite all this information, previous case experiences, and laws or standards to hold lenders and industry leaders accountable, why hadn’t more action been taken? It seems we understand the depth of the impact and costs to protected groups, but isn’t it a disparate impact itself in prolonging affirmative action?
