Challenges Compliance Officers Face and How to Overcome Them

June 4, 2015 4:35 pm
  In 2014, the Wall Street Journal said that a compliance officer is one the hottest jobs in America, but there are many challenges that come with this role. If you’re a compliance officer, you know that you live in a fast-paced world where the margin for error is small and the pressure to perform… View Article

Tired of hearing about TRID? Let’s talk about Regulation E!

May 28, 2015 12:00 pm
By: Gina Ellis Regulation E generally requires a bank to resolve a disputed error or give a provisional credit within ten business days of receiving a dispute.  A bank may also have a contractual obligation to provide provisional credit within five business days for Visa or MasterCard point of sale disputes.  When provisional credit is… View Article

New Features to the Loan Estimate

May 19, 2015 12:27 pm
By: Mikel Dunnagan The Loan Estimate has several new features in addition to the information currently required on the Good Faith Estimate and Early Truth in Lending disclosure.  Below we elaborate on a few: Years describes the approximate length of time each disclosed payment would last.  Descriptions can include a single payment, several payments or… View Article

Earning a CRCM (Certified Regulatory Compliance Manager) Certification

May 8, 2015 12:31 pm
By: Cody Roberts, CRCM Through the Institute of Certified Bankers (ICB), the American Bankers Association (ABA) has sought to educate and certify bankers in specific areas of expertise. Currently, ICB offers nine professional certification programs in the areas of wealth management and trust, compliance and risk management, lending, bank marketing and retirement services. The certification… View Article

Other Disclosures Impacted by TRID

April 23, 2015 12:32 pm
By: Elva Coffey-Sears We’ve all been focusing on the implementation of the new Loan Estimate and Closing Disclosure, but we mustn’t lose sight of the other disclosures impacted by the TILA-RESPA Integrated Disclosure rule. Here at ABS, we recommend including these disclosures in your pre-implementation training and testing. TRID added a new disclosure that must… View Article

New Home Loan Toolkit Now Available

April 16, 2015 12:34 pm
By: Gina Ellis The CFPB has released “Your Home Loan Toolkit,” a new consumer guide that replaces the current Settlement Cost booklet.  You will now be required to provide this Toolkit to consumers beginning August 1, 2015, yet the requirements for providing the Toolkit do not change.  As usual, the Toolkit is required to be… View Article

TILA-RESPA Integrated Disclosures: An Overview

April 14, 2015 12:35 pm
By: Mikel Dunnagan In the words of Jay Bruce, CEO/General Counsel here at American Bank Systems, “These rules are, perhaps, the most detailed, complex and demanding consumer compliance regulations to hit the banking industry.” The documents most significantly affected by the TILA-RESPA changes are the Good Faith Estimate (GFE), HUD-1/1A Settlement Statement (HUD-1) and Truth… View Article

Four Reasons Why You Should Attend the ABA Regulatory Compliance Conference

April 12, 2015 12:38 pm
By: Cody Roberts, CRCM Named “the premier event of its kind for compliance professionals, ” this year’s ABA Regulatory Compliance Conference will once again unite bankers, vendors, and regulators in Washington, DC from June 14-17. The event will be part trade-show, showcasing vendors from the bank compliance industry, and part classes, ranging from panel discussions… View Article

Significant Changes to Tolerance

April 11, 2015 12:40 pm
By: Elva Coffey-Sears While the new TILA-RESPA Integrated Disclosure rule retains the tolerance limitations for certain settlement charges, it also includes numerous changes and clarifications, making it a vital topic to include in your pre-implementation training program.  To ensure you are up-to-date, check out the following list summarizing the more significant points: Estimates must be… View Article

5 Things to Consider before August 1, 2015

April 10, 2015 12:42 pm
By: Gina Ellis Can you believe it’s already March? You know what that means! The August 1steffective date for the Truth In Lending/RESPA Integrated Mortgage Disclosure rules is on the horizon. With that, here are 5 things to consider now before the effective date: 1.   Many smaller community banks decided not to implement the use… View Article