Links in “Banks”
- That’s One Way Around Overdraft Fee Issues
Bank of America is testing a new type of checking account, called "Safe Balance," which requires a flat, monthly fee of $4.95, but is overdraft-fee free. [3/7]
- Speaking of Disparate Impact: CFPB Ranks its White Employees Higher Than its Minorities
According to American Banker, confidential agency data it obtained show a pattern of ranking white employees distinctly better than minorities in performance reviews used to calculate raises and bonuses. [3/6]
- Bankers to Yellen: Beware Efforts to Regulate Interchange Under Guise of Data Security
53 state bankers associations write to FRB chair Yellen calling attention to "thinly veiled effort to once again advance the regulation of interchange under the guise of current concerns over data security." [3/6]
- FTC Does Not Intend to be Upstaged by CFPB
FTC signals it won't be taking a backseat to the CFPB when it comes to FDCPA enforcement with its annual summary of debt collection practices. [3/6]
- Advocating Advocacy
New chairman of ICBA tells community bankers to stand up for what they believe in, that their voices can be a difference maker in their communities. [3/6]
- NY Goes After Nonbank Mortgage Servicing Firm
Benjamin Lawsky, New York State's top banking regulator, asks Nationstar about complaints consumers are raising concerning the company's mortgage modifications, improper fees and lost paperwork. [3/6]
- CFPB to Credit Furnishers: Investigate, Don’t Just Delete, Disputed Items
The Fair Credit Reporting Act investigation is important, according the CFPB, to provide a critical check on the accuracy of systems and following through on other required elements of the dispute response, such as notifying all credit reporting agencies of the inaccurate information. [3/5]
- The “Business Day” Conundrum and Mailing Appraisals
What counts as a business day when it comes to "delivering" an appraisal to the applicant three business days after it is placed in the mail, the days the businesses are open, the days the post office are open, or the days your institution are open? And what if there is no clear answer? So many questions... [3/5]
- Median Number of Compliance Staff at Community Banks Doubles
- Credit Card Processing Company to Open Doors to Legal Marijuana Businesses
Citadel EFT announced its intentions to provide a comprehensive processing solution for the legal marijuana industry, pledging to make it legal and fully compliant with Federal and State laws. [3/5]
