Publications Archive

Q: We would like to have a giveaway contest but are concerned with the requirements under the Bank Lottery Rule. What should we consider? A: Under the Bank Lottery Rule, with the exception of a savings raffle, any advance of money or credit by ...Read More

Q: The bank offers a service that allows funding new accounts through an ACH transfer authorized from the bank. For example, the Customer is opening a new account at Bank B and has an existing account at Bank A. Our service allows the customer ...Read More

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 are in the process of changing our TISA disclosures and are going to be sending out the updated disclosures soon.  We are going to make sure to send out the notices at least 30 days before the effective date of any changes, ...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

Q: A borrower passed away, leaving the property to her daughter. The borrower’s outstanding debt remains, and the daughter applied for a loan to pay off the debt. With respect to HMDA requirements, what type of loan is the daughter applying for? A: This ...Read More