Consumer Compliance
This agency is the Bank's primary regulator.
Who is the OCC?
The 3 Performance Tests used to evaluate a large bank.
What is the retail lending test, the community development investment test, and the community development services test?
An executive officer or Bank Director under Regulation O is referred to as this.
What is an insider?
The program that is used to identify customers.
What is the Customer Identification Program (CIP)?
Their acronym is OFAC.
Who is the Office of Foreign Asset Control?
A key requirement of this regulation is disclosure of account terms, interest rates, and fees for deposit accounts.
What is Reg DD?
The loan types that are evaluated as part of the retail lending test.
What are residential mortgage loans, small business and small farm loans?
All loans to executive officer, directors and principal shareholders are required to be reported to which governing body per Regulation O.
Who is The Board of Directors?
The requirement for banks to collect and identify and verify the identity of individuals who own 25% or more of a legal entity customer or individuals who control the legal entity.
What is the Beneficial Ownership Rule?
The government agency that who administers and enforces economic trade sanctions under OFAC.
Who is the US Department of Treasury?
The federal agency primarily responsible for enforcing consumer financial protection laws.
Who is the CFPB?
The primary purpose of CRA.
What is to meet the needs of the communities the Bank serves?
The consequence of violating Regulation O lending limits.
What are regulatory penalties or enforcement actions?
The agency primarily responsible for enforcing BSA Regulations in the US.
Who is FinCen?
The legislation that primarily authorizes OFAC to implement sanctions programs.
What is BSA?
What are Banks required to do until the NFIP when they are notified that flood insurance has lapsed or is cancelled?
What is add force-place insurance?
Defined as either affordable housing, economic development, community services, or revitalize and stabalize.
What is Community Development?
An overdraft on an executive officer's account that is not tied to another Deposit account or does not have a Line of Credit attached is returned and charged the returned check fee.
What is Farmer's Overdraft Policy for Reg O accounts?
The primary purpose of AML Regulations.
What is to detect and prevent money laundering?
The primary responsibility of the Bank when it identifies a match with an OFAC-listed entity.
What is freeze the assets and report it to OFAC?
Failing to disclose a balloon payment in a loan agreement would most like be considered a violation under this regulation.
What is UDAAP?
This is based on peers in our assessment areas defined as lenders whose loan volumes were 50% - 300% of our volumes stated as a percentage of loans.
What are the loan benchmarks?
The lessor of $500,000 or 5% of the Bank's capital.
What is the general limit on loans to an insider?
The three stages of money laundering.
What is placement, layering and integration?
OFAC targets these entities/persons.
Who are terrorists, drug traffickers, foreign adversaries, and others posing a threat to US interest?