Aug 29

Aug 29 VIDEO: Minimum CIP Requirements

In this Compliance Clip (video), Adam talks about the minimum requirements for a financial institution’s Customer Identification Program. This is a BSA topic. A transcript of this video is now available.

Aug 15

Aug 15 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 25

Jul 25 VIDEO: When must a borrower receive the appraisal?

Adam Witmer

Regulation B, Appraisals

In this Compliance Clip (video), Adam breaks down the requirements in Regulation B as to when a borrower must get a copy of the appraisal used in their loan. Not only is the timeframe for delivering the appraisal discussed, Adam also covers when the appraisal delivery requirements of Regulation B apply. A transcript of this video is now available.

Jul 4

Jul 4 VIDEO: When is an FCRA Adverse Action Notice Required?

Adam Witmer

FCRA

In this Compliance Clip (video), discusses when and Adverse Action Notice is required under the Fair Credit Reporting Act. Adam provides instances when financial institutions need to furnish Adverse Action Notice to a consumer when an adverse action is taken.

Jun 6

Jun 6 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.

May 30

May 30 VIDEO: Who is FATF?

Adam Witmer

BSA

In this Compliance Clip (video), Adam talks about the the Financial Action Task Force or FATF, an international organization established to set global standards for combating money laundering and terrorist financing. He explains the FATF's role in coordinating efforts among nations and the importance of their 40 recommendations in maintaining financial integrity worldwide.

May 2

May 2 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.

Apr 25

Apr 25 VIDEO: Filing a CTR on an Entity

Adam Witmer

BSA

In this Compliance Clip (video), Adam explains how to properly file a Currency Transaction Report (CTR) for an entity, clarifying the definition of "person" in regulatory terms. A transcript of this video is now available.

Apr 11

Apr 11 VIDEO: What is the FCRA?

Adam Witmer

FCRA

In this Compliance Clip (video), Adam provides a brief overview of the Fair Credit Reporting Act or FCRA. He describes how this longstanding law protects consumers and regulates the practices of both consumer reporting agencies and the users of their data. A transcript of this video is now available.

Apr 4

Apr 4 VIDEO: What is the 6% cap under SCRA

Paula Parras

SCRA

In this Compliance Clip (video), Adam discusses the 6% interest rate cap under the Servicemember Civil Relief Act (SCRA) and how it benefits active-duty military personnel. As interest rates continue to rise, understanding these protections becomes increasingly important for creditors. A transcript of this video is now available.