With an additional overlay of state and federal regulation, employment law issues at financial institutions take on an additional level of complexity. Whether it is the new regulations affecting permissible compensation practices for mortgage loan originators, state and federal licensing requirements or complex rules applicable to insider transactions, human resource […]
Banking Update
My Bank Issued a Form 1099-C to a Defaulted Borrower…Can it Still Collect the Debt?
When a borrower defaults on its loan obligations, a lender must decide how to collect the debt and whether to write down or write off the loan. The IRS has added another layer of complexity to these decisions by requiring a lender to report a debt discharge by issuing a […]
A Higher Standard for Bank HR Departments (Part 1)
With an additional overlay of state and federal regulation, employment law issues at financial institutions take on an additional level of complexity. Whether it is the new regulations affecting permissible compensation practices for mortgage loan originators, state and federal licensing requirements or complex rules applicable to insider transactions, human resource […]
Disclosures on a Mobile Device: Key Take-Aways from Limited Federal Guidance
Mobile banking, where a consumer uses a mobile device to connect with their financial institution for a variety of traditional banking services, is on the cusp of widespread adoption by consumers in the United States. In fact, according to a Federal Reserve Board study, 48% of Americans reported using a […]
CFPB Signals Intent to Scrutinize FCRA Compliance
The Consumer Financial Protection Bureau recently released a bulletin expressing concern that financial institutions and other organizations that furnish information to credit reporting agencies (CRAs) are not complying with obligations under the Fair Credit Reporting Act (FCRA) and Regulation V to conduct a reasonable investigation of direct consumer disputes. […]