I’m developing my compliance audit plan for the upcoming year and, from a timing perspective, need to determine the amount of transaction testing to be performed. Does any testing conducted during compliance monitoring factor into my determination?
We were cited in our last exam for not having a permissible purpose to pull a credit report; however, I can’t find information in the regulation regarding permissible purpose. Where can I find this information?
For Reg B purposes we require a verification of income and of assets to have a "completed application." If we receive an appraisal for a lower than expected amount, if the loan was already approved would this prompt a counteroffer if we can't use the original terms that we offered based on the verification of income and verification of assets?
If our bank mentions our new Super Rate CD on its Facebook page without providing any details like rate or term, etc., do we need to include the FDIC Logo?
We are ordering new mandatory signage for the bank lobby. Our CRA notice and the annual disclosure notice that has always been posted in the lobby has been a printout. I have been looking on line and the pre-printed notices have a "clear pouch." What is suppose to be put in the clear pouch?