InfoSight Spotlight: FACT Act Checklist

The Fair and Accurate Credit Transactions Act (FACT Act) amends the Fair Credit Reporting Act in several important ways. It gives consumers the right to one free credit report every year from the credit reporting agencies, added new identity theft protections that allow consumers to place fraud alerts on their credit reports, and requirement of […]

InfoSight Spotlight: CECL FAQs released by interagencies

The Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Office of the Comptroller of the Currency (OCC) released an updated FAQ document on CECL (current expected credit losses) methodology. This document contains already issued FAQs from 2016 and 2017, as […]

InfoSight Spotlight: HMDA modified LARs released

The CFPB recently announced that HMDA Modified Loan Application Register (LAR) data had been published for approximately 5,400 financial institutions. This is the first year in which additional data reported by certain institutions under the 2015 HMDA rule is available. The Modified LARs contain loan level information for 2018 on individual HMDA filers, modified to protect privacy. […]

Fraud prevention webinar planned in April

An upcoming fraud webinar with Sean Sheppard of Confluent Strategies/Equifax will cover fraud prevention using some credit scoring models and other technology. The webinar is planned for Tuesday, April 23 from 10 a.m. to 11:30 a.m. ET. The following topics will be discussed: Types of fraud you are experiencing?  i.e. True name fraud, synthetic fraud, […]

InfoSight Spotlight: 2019 HMDA Reporting Guide released

The CFPB has announced the availability of the FFIEC’s 2019 edition of A Guide to HMDA Reporting: Getting It Right! for HMDA submissions due March 1, 2020, of applications and originations during 2019. The 2019 edition reflects amendments made to HMDA by the Economic Growth, Regulatory Relief, and Consumer Protection Act, and the 2018 HMDA interpretive and […]

SAFE Act advances out of House Financial Services Committee

H.R. 1595, the Secure and Fair Enforcement Banking Act (SAFE) of 2019 has advanced out of the House Financial Services Committee with a 45-15 bipartisan majority vote.  This bill creates protections for depository institutions that provide financial services to cannabis-related legitimate businesses and service providers for such businesses, and for other purposes. In Florida, CFO Jimmy Patronis is […]