Final Rule Amending Real Estate Appraisal Regulations

June 11, 2018 11:38 am
By Cody Roberts, CRCM On April 9, 2018, the OCC, Board of Governors of the Federal Reserve System (Board), and FDIC adopted a final rule to amend these agencies’ regulations requiring appraisals of real estate for certain transactions. This final rule was effective on April 9, 2018. The affected regulations are: 12 CFR 34, Subpart… View Article

90-Day Exceptive Relief Provided for Beneficial Ownership Rule

May 29, 2018 7:30 am
Beneficial Ownership Receives Relief from FinCEN By Gina Ellis, CRCM FinCEN issued a ruling May 16, 2018 to provide a 90-day exceptive relief from certain obligations of the Beneficial Ownership Rule. FinCEN is offering this exceptive relief for specific products such as certificates of deposit or loans that automatically rollover or renew and that were… View Article

Technology That Works For You

April 30, 2018 8:39 am
By Gary Reed, Vice President – Customer Care Services At American Bank Systems, we strive to make the day-to-day activities easier for our clients. One of the ways we do this is with the Docs Direct interface between our CoPilot Loan & Deposit Origination System and our BankManager® Elite Document Imaging System. With Docs Direct,… View Article

CRA Regulations Joint Final Rule on Public File Content and Definition Changes to Conform to Regulation C

April 16, 2018 9:33 am
By Cody Roberts, CRCM On November 24, 2017, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) (collectively, the Agencies) amended their regulations implementing the Community Reinvestment Act (CRA). The Agencies modified the existing definitions of ‘‘home mortgage… View Article


April 2, 2018 9:18 am
by Elva M. Coffey-Sears, CRCM, CRP The TCPA was originally passed in 1991 to protect consumers from telemarketing calls. At that time, cellular phones were rare, texting was not an option, and users were billed by the minute for calls – both incoming and outgoing. In general, the TCPA prohibits making telemarketing calls using an… View Article

Home Mortgage Disclosure Act (HMDA) Regulatory Reform?

March 19, 2018 9:10 am
By Gina Ellis, CRCM Today’s fast paced news cycle makes it increasingly difficult to keep track of regulatory changes. You may be aware of a bipartisan regulatory reform package proposed by the Senate Banking Committee, S. 2155, The Economic Growth, Regulatory Relief and Consumer Protection Act. However, you may not know that the legislation includes… View Article

FinCEN 2018 Suspicious Activity Form Update

February 20, 2018 9:57 am
by Elva M. Coffey-Sears, CRCM, CRP FinCEN announced that the changes to the Suspicious Activity Report (SAR) proposed in February 2017 will be implemented and effective in June 2018. The revisions do not impose any new regulatory requirements nor change the requirements relating to suspicious activity reporting. FinCEN is removing, revising and adding new fields… View Article

National Flood Insurance Program Reauthorization

February 5, 2018 10:08 am
By Gina Ellis, CRCM The President and both houses of Congress extended the National Flood Insurance Program (NFIP) temporarily through February 8, 2018 and also authorized the Federal Emergency Management Agency (FEMA) to honor all policy related transactions inadvertently accepted during the recent government shut down that occurred between January 20-22, 2018. FEMA issued implementation… View Article

Ticket Tracker Program for CoPilot

January 22, 2018 9:49 am
By Gary Reed, Vice President – Customer Care Services Every day we have customers contact us for issues, questions, or to request enhancements for the different systems we support. Our clients can reach out to us via telephone or by e-mail. Additionally, our Co-Pilot clients can use our Ticket Tracker system. Using Ticket Tracker allows… View Article