Legal Briefs

Loans, ECOA, and Noncitizen Discrimination New CRA Final Rule Released Loans, ECOA, and Noncitizen Discrimination By Andy Zavoina To me, this is one of those statements that says it is a warning shot and you need to know where the bullet may drop. This is your opportunity to evaluate the situation and step to the side to avoid injury, if …

Deposit account questions and answers Other frequently asked questions The OBA Compliance Team fields well over a hundred email messages every month, along with a healthy number of telephone inquiries. This month, our Legal Briefs include a sampling of the emails, which have been anonymized to remove the names of banks and individuals. Deposit account questions and answers. Compiled by …

OK Legislation 2023 By Pauli D. Loeffler Oklahoma Uniform Consumer Credit Code Title 14A Sec. 1-106 of the Oklahoma Uniform Consumer Credit Code  in Title 14A (the “U3C”) is the section that determines when and how much dollar limits under Title 14A are subject to change. These changes are based on increases in the Consumer Price Index for Urban Wage …

HMDA Analysis Personal Responsibility Forms Update HMDA Analysis By Andy Zavoina If your bank is a reporter under the Home Mortgage Disclosure Act (HMDA), you may well have some work to do if you have not already done some or all of this. On June 29, 2023, the Federal Financial Institutions Examination Council (FFIEC) announced the availability of data on 2022 mortgage …

Appraisal bias – Part II Reconsideration of value 1071 – Small Business Lending Rule, Basics   Appraisal bias – Part II By Andy Zavoina In March 2021 HUD approved a settlement between JPMorgan Chase and an African American woman over appraisal bias. There was no admission of fault on Chase’s side, but the bank agreed to pay the woman $50,000, …

Appraisal Bias, ECOA, FHA and USPAP Changes in UCCC amounts effective 7/1/23 Appraisal Bias, ECOA, FHA and USPAP By Andy Zavoina Appraisal bias is a new big thing. Well, not brand new. It has been a problem for a few years and the current thrust is to promote an understanding of the rules and the results when an appraisal is …

Reputation risk and theft Deposit mismatches and liability Reputation risk and theft By Andy Zavoina I think I’ve always been fascinated by “the con” and the way some people will steal, and others will be gullible. That fed a degree of interest and intrigue in me for many years and led me to a hobby of magic (where lying and …

Signage management SCRA and a new best practice recommended? The child support levy moratorium is over Signage management By Andy Zavoina As we enter the new year, let’s continue from last month on getting the little things squared away so we can focus on a new year of compliance work. Let’s talk about signage requirements. In our main branch we …

Has your bank suddenly become a HMDA reporter? Minutiae matter Joint owners’ signatures on new joint accounts Has your bank suddenly become a HMDA reporter? By John S. Burnett A recent federal court decision has lowered the loan reporting threshold for closed-end mortgage loans under the Home Mortgage Disclosure Act-implementing Regulation C from 100 to 25 closed-end mortgage loans in …

Insider Abuses Insider Abuses By Andy Zavoina Bert Lance. Many, or most of you will not know that name, but all of you know Regulation O. Briefly, this reg was implemented to prevent bank directors, executive officers, and principal shareholders from benefiting from favorable credit terms and treatment in a bank. This group we refer to as “insiders” is not …