Compliance Questions & Answers

ANSWER:

If a recipient makes a request using a mechanism provided pursuant to paragraph (3) not to receive some or any commercial electronic mail messages from such sender, then it is unlawful— (i) for the sender to initiate the transmission to the recipient, more than 10 business days after the receipt of such request, of a commercial electronic mail message that falls within the scope of the request.

Reference: CAN-SPAM 16 CFR 316.3

ANSWER:

There is an exception to the disclosure and opt out provisions of Regulation P pertaining to service providers. If the service provider meets the exception no opt out is necessary. Note that the Fair Credit Reporting Act and state law (if it is more restrictive) may be applicable.

Reference: Regulation P 12 CFR 1016.14

Regulation E states that the rule for replacing an access device is one for one when issuing a renewal or substitute access device, only one renewal or substitute device may replace a previously issued device. However, the bank may provide additional devices at the time it issues the renewal or substitute access device but must follow the requirements of 1005.5(b) for Unsolicited Issuance.

Reference: Official Staff Interpretation 1005.5(a) and (b).

Until FinCEN directs otherwise, if euros are involved and the country of origin is unknown, enter “BE” for Belgium in Items 26/28, as applicable.

Reference: FinCEN CTR FAQ, Q28.

Maybe. If the mobile home serves as the applicant's primary residence, the disclosure requirements would apply.

Reference: 12 CFR 1026.3 and 1026.19(b).

The bank may choose to do either if the original application and the request to "overturn" the denial occur within the same calendar year. The bank may choose to treat the request as a continuation of the earlier transaction using the same ULI or NULI or as a new transaction with a new ULI or NULI. If the bank treats it as a new transaction it must report the date of the request as the application date. If it is treated as a new transaction, it is reported as the origination date.

Note: This data field is required for all HMDA reporting institutions. Reference: HMDA Reporting Getting it Right, Version 4.0 Edition effective for January 1, 2020 (submission due March 2021), page 63 and i-29 reinstated application; Commentary 1003.4(a)(1)(ii)-4; Commentary 1003.4(a)(1)(ii)-3.