Breaking Archive

Q: If a bank has three applicants who are denied a loan and the reasons for the denial are different for each, does each borrower need to get an adverse action notice, stating the specific reason for denial for that applicant, or can one ...Read More

Q: For a debt-collector within the meaning of the FDCPA, what are some of the restrictions around communicating with a borrower regarding a debt? A: The FDCPA, § 805, sets forth the following procedural requirements that apply to debt-collectors within the meaning of the ...Read More

Q: We’re going to be changing our disclosures in a way that we believe would require us to give a 30-day advance notice under Regulation DD.  I know that Reg DD applies to consumers, but what about consumers that have DBA accounts? A: You ...Read More

by Rob Nichols, American Bankers Association After tapering off during the pandemic, the trend of credit unions buying taxpaying community banks is back—and credit unions are becoming more aggressive than ever in their pursuit of acquisition targets. The first half of 2021 has already ...Read More

Q: (CAN-SPAM): When sending unsolicited emails to non-customers, for purposes of CAN-SPAM Act, can the “from” line contain a loan officers name, instead of the entity sending the email; or must the “from” line disclose both the sender individually and the organization? A: The ...Read More

by Charles W. Prueter At least once a day, I answer my phone only to be greeted by “Heather from account services” or someone alerting me that the “warranty on your vehicle is about to expire.” (The warranty on my car expired 4 years ...Read More

Q: A customer deposited a check into a savings account, the funds from which were made available, and then transferred the funds into a savings account. The savings account receives social security benefits. The check is now being returned. Can the bank exercise the ...Read More