Compliance Blog

Posted by Anthony Demangone

Here's a few links to get you through today...

• Board of Directors.  This blog post talks about the merits of the "consent agenda."  (Governance and Strategic Planning blog.)  A consent agenda is a way that boards can act on non-controversial items in order to free up valuable board time.  
• Debit Interchange.  You've probably heard this already, but we should see the Fed's debit interchange proposal this Thursday.
• Mortgage Brokers.  There seems to be a trend of mortgage brokers letting their licenses expire.  (Bank Lawyer's Blog.) That isn't entirely surprising given the Fed's recent rule on mortgage-related compensation.  
• Dye Packs.  Will technology render them obsolete? (Bank Lawyer's Blog.)
• Regulation Z Threshold.  Many people are surprised to learn that Regulation Z does not apply to many consumer loans of more than $25,000.  That's right - a loan for a tricked-up Honda Accord may not be subject to Regulation Z.  Dodd-Frank has a provision that pushes that to $50,000, and the Fed has issued a proposal to implement that provision.  The Fed also released a similar proposal to amend Regulation M.
• Prohibition Orders.  NCUA has issued its latest batch. The first one should get your attention.  It involves alleged fraud of more than one meeeeelion dollars. (Dr. Evil, via YouTube.com.)
• IOLTA Accounts. Faithful readers - I need a favor.  Email me me if your credit union offers IOLTA accounts.  If you do, let me know any details you can muster.  Some folks on the Hill are wondering how many credit unions offer them, and we're trying to get any data that we can. Many thanks in advance.