An Update on the TRID Grace Period

October 21, 2015 4:07 pm
By, Elva Coffey-Sears The industry heaved a sigh of relief when the banking regulators announced they would take a consultative approach to initial examinations for compliance with the new Integrated Disclosure Rules. The agencies indicate that although examiners will use the new interagency examination procedures, they will also consider an institution’s implementation plan, including actions… View Article

2015 BankManager® Users Conference

October 9, 2015 8:40 am
By: Gina Ellis American Bank Systems’ BankManager® user’s conference is right around the corner! Our annual event will be held October 28-29 at the Reed Conference Center at the Sheraton Hotel in Midwest City, Oklahoma. Featuring breakout sessions, presentations, forums and innovative discussions, the conference will highlight the new browser-based system, BankManager® Elite along with… View Article

Final Rule Presents New Changes

October 2, 2015 5:14 pm
By, Mikel Dunnagan The CFPB issued a Final Rule implementing changes to the definitions of “small creditor” and “rural underserved areas” relating to the special provisions and creditor exemptions contained in its 2013 Escrow, ATR and HOEPA Rules. Specifically, this Final Rule: – Increases the loan origination limit for determining small creditor eligibility from 500 to… View Article

CompliancePro® Client Alerts for Regulation and Law Changes

September 28, 2015 8:54 am
By, Cody Roberts ABS clients have come to expect (and receive) great customer service. How do we always achieve this? By constantly exploring ways to keep our clients informed of new regulatory developments. That’s why we’re introducing these new alerts for CompliancePro clients. CompliancePro is ABS’ fully automated browser-based software system that enables institutions to… View Article

What IS a Business Day?

September 18, 2015 4:35 pm
By, Elva Coffey-Sears While that seems like a simple question to us it just isn’t that easy in the world of Regulatory Compliance! According to Wikipedia, “a business day is considered every official working day of the week” and “typically, these are the days between and including Monday to Friday and do not include public… View Article

Military Lending Act Revisions

September 4, 2015 10:04 am
By, Gina Ellis Many banks have procedures in place to obtain a written statement from an applicant to establish military status to determine if certain provisions of the Military Lending Act (MLA) are applicable for consumer disclosure purposes. However, starting on October 3, 2016, banks will have access to a new safe harbor to determine… View Article

Better Living with CFPB Tools and Electronic Delivery

August 27, 2015 3:00 pm
By, Mikel Dunnagan As seen in a recent CFPB blog post, the Bureau conducted a study using a pilot program incorporating many of the CFPB’s tools. This study included the new-fangled technology known as “e-closing.” Although the sample of borrowers was small, the Bureau proudly reports that the empowerment, understanding and efficiency of these borrowers… View Article

2015 ABA Survey of Institution Compliance Officers Report

August 20, 2015 10:34 am
By, Cody Roberts Every once in a while, compliance personnel get to look up over the trees and survey the broader landscape of compliance. I would suggest doing this by reviewing what others in the woods are doing around the country. Checking out the results of the 2015 ABA Survey of Institution Compliance Officers Report… View Article

Change Management

August 13, 2015 10:59 am
By, Elva Coffey-Sears Change is the only constant in life – just ask any compliance officer! On any given day, a compliance officer faces a myriad of internal and external changes and needs to have a defined process for evaluating the impact on the level of compliance risk facing the institution. Regulators expect every financial… View Article

5 Tips for Avoiding Flood Insurance Civil Money Penalties

July 30, 2015 1:24 pm
Author: Gina Ellis When the Biggert-Waters Flood Insurance Reform Act of 2012 was enacted on July 6, 2012, Civil money penalties for flood violations increased from $385 per violation to $2,000 with no aggregate limit. Penalties can be assessed for failure to: Purchase adequate flood insurance Properly force place flood insurance Provide notification on the… View Article