Links in “Banks”
- Understanding the Complicated New Definition of Points and Fees
Among the more complicated pieces of the new mortgage rules puzzle is the definition of points and fees. [1/16]
- Busts in Housing Scheme Targeting Abandoned Houses
The scheme of the California group, which included two attorneys, was to identify abandoned homes, file for adverse possession in court in order to obtain the titles, then resell or rent the homes. Scheme was uncovered when a homeowner sought an equity loan on a home she owned and found out that the deed holder was listed as one of the defendants. Five have been arrested in the scheme that involved 23 homes in nine counties. [1/16]
- What Is Keeping Your Community Bank from Becoming a Mortgage Broker on Steroids?
Former community banker sees a rare opportunity for the "cream of the crop" community banks that have survived thus far to tap into a market that is too often going across the street to mortgage companies, compliance burden notwithstanding. [1/16]
- Chase Bank Elevates Levels of Security for Deposits
Chase Bank has introduced new procedures that require customers to provide ID when making cash deposits into an account (and, by extension, their name must be listed on the account). Reviews are mixed, renewing the age old debate between consumer protection and consumer convenience. [1/15]
- Regulating Your Social Media Before It Starts Regulating You
NeighborBench's Jane Pannier breaks down the FFIEC's recommendations for managing your institution's social media presence. [1/15]
- Fed Survey: Consumer Expectations for 2014 Flat
New York's Federal Reserve Bank surveys customers and finds expectations fairly flat for inflation, prices, labor market and household finance. [1/15]
- Bill Would Extend Mortgage Debt Tax Exemption
Tax relief for the liability on the difference between the house's value and the amount of a foreclosure or short sale expired for homeowners on 12/31/2013. A new bill seeks to extend it. [1/15]
- NCUA Promotes Webinar on Serving Low-Income Members
The webinar, scheduled for 1/15/2014, covers topics that might be of interest to all financial institutions, including banks (CRA elements). Focus to be on second-chance loans and checking accounts, alternatives to payday loans, and value-added partnerships with municipalities and community service organizations. [1/14]
- Rapid Response Key to Reduced Losses from Target Breach
It appears that the primary lesson learned from the Target breach is that that financial institutions need to take early, proactive measures. Those credit unions that informed their members and reissued cards immediately on hearing about the breach are incurring less fraud loss than they had anticipated. [1/13]
- Four Views on Compliance in 2014
These industry observers see four areas to pay attention to in 2014: preparing for the impact of CFPB rules, cooperating as the key to compliance, extending controls from back office to front office, and adding a new compliance topic: taxes. [1/13]
