Links in “Banks”

Banker questions how large deposit exception hold under Reg CC would apply to a given scenario. [11/7]

Since it began accepting debt collection practices in July, the CFPB has seen debt collection complaints quickly become one of the highest categories of grievances. [11/7]

Settlement would again avert the Supreme Court's ruling on the issue of disparate impact, in which it is not necessary to show intent to discriminate, only that a policy has had a disproportionate effect on racial minorities. [11/6]

While it would not be prudent to put the brakes on your institution's efforts to prepare for the January implementation of the Ability-to-Repay and Qualified Mortgage rules just yet, 118 members of the House have signed a letter urging CFPB to delay implementation of the rules for one year. The House members claim that the 4,000 pages of regulations followed by four amendments to further clarify the requirements make it unrealistic for financial institutions and their software providers to be ready to comply in time. [11/6]

This article provides seven reasons for applying a variable APR to your credit cards. With interest rates expected to rise and funding costs likely to increase, variable rate pricing may be your best risk management strategy. [11/6]

Check cashing company violates anti-money-laundering requirements of the Bank Secrecy Act for processing $19 million in shell corporation checks between June 2009 and June 2011. [11/6]

Banks and other creditors that originate and collect their own debt will be the most affected by the new rules since most existing regulations do not cover them. [11/6]

Steep rise (from zero in 2005 and 2006), peak in 2010 (at 157), then slow descent (23 year-to-date in 2013). [11/5]

While ABA supported Biggert-Waters, in the wake of recent storms, including Katrina and Sandy, many homeowners have found their properties to be located in heightened high-risk flood zones due to remapping done by FEMA and are acing severe affordability issues if rate increases are to take effect as scheduled. The industry group lends its support to efforts to reform Biggert-Waters. [11/5]

Two joint trade association letters sent to Congress regarding patent trolls and privacy notices. [11/4]