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CRCM Dates > CRCM Dates > Flashcards

CRCM Dates Flashcards

1
Q

What is Reg Z open end non CC change in term notices? Error to credit deadline? Both non RE and HELOC

A

non RE: 45 day before effective date (provided=in mail, not when received) , if error- credit w/in 5 bus days: HELOC: 15 day before, if credit reduced or no more extensions- 3 bus days after action taken

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2
Q

What is loan threshold for BSA 5 yr records?

A

> =$10k excluding secured by real property

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3
Q

What is age requirement for MLA covered borrowers?

A

dependents <21, dependents 21+ if reliant for half of support, <23 if college

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4
Q

What is rate limitation time frame for mortgage SCRA?

A

1 year after end of active duty

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5
Q

What are Reg CC case by case hold rules?

A

can hold max 2 bus days if make $200 avail next bus day (once per cust per day). funds avail NLT 9am next bus day or when teller facilities avail for withdrawal

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6
Q

What is a Reg O principal shareholder?

A

> =10% voting shares and related interests

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7
Q

What is Reg E error resolution notice disc req & investigation timeline?

A

long form annually or short form w/ each statement; 10 bus days to investigate, 20 bus days if new acct, 45 days to investigate if provisional credit given w/in 10 bus days & notice w/in 2 days of credit (90 days if out of state, new acct, resulted from POS).

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8
Q

If unaffiliated pmt card networks merge, how long to add new card network to offering?

A

6 months

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9
Q

What is MSB threshold?

A

> $1k/trans/day/category

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10
Q

What is record retention of RFPA?

A

No time limit

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11
Q

How long is GLBA opt out good for?

A

Until customer revokes

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12
Q

How long does CRA have to block identity theft info?

A

4 business days if consumer gave proof of ID, info to be blocked identified, theft report provided and statement that transactions aren’t theirs

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13
Q

What are Reg O principal shareholder lending limits?

A

board approval if they own >=10% voting shares

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14
Q

What is Flood force place insurance requirement?

A

notify borrower w/in 45 days, 30 days to refund unearned premium. change in servicer identity provided w/in 60 days of effective date

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15
Q

What is SAR threshold & deadline to file?

A

> =$5k with known suspect= 30 cal days to file
=25k without known suspect = 60 days to file
insider = any amount

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16
Q

What is IRS withholding of US sourced income paid to foreign customers unless exempted?

A

30%

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17
Q

What is RESPA insurance requirement?

A

force place if >30 days overdue, 45 day disc before charge, 30 days after 1st notice, 2nd notice 15 days before charge. if annual notice: 45 bus day before, remove/refund w/in 15 days.

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18
Q

What is Reg O record retention?

A

Maintain records of all credit extended to insiders or related interests; 2 years minimum for EO/PS debt (3 yrs best practice)

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19
Q

What is change in terms notice Reg E, Reg, CC, Reg DD?

A

Reg E: 21 days before; Reg CC/DD: 30 days

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20
Q

What is QM qualification?

A

<=30 yr term, DTI <=43%, points/fees <=3% total loan where loan less than $105,158

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21
Q

What is large bank under CRA?

A

> 1.284b in prior 2 CYs

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22
Q

What is Reg M coverage?

A

lease for consumer purpose 4 months (OE or CE)

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23
Q

How many acct # digits can be on an electronic receipt under FCRA?

A

5 numbers

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24
Q

What is Reg CC cut off time?

A

no earlier than 2pm (or noon for ATM taking deposits)

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25
Q

What is Reg Z finance charge tolerance for non RE, RE & rescindable?

A

$5 if $1k; $100 if CE or secured by RE; $25 if rescindable

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26
Q

What is Reg E customer responsibility without losing access device?

A

$50 if notice w/in 2 bus days of learning of loss or w/in 60 days of statement w/ error. bank can require written notice w/in 10 bus days to grant prov credit.

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27
Q

When does W9 TIN cert expire?

A

Never

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28
Q

When should AANs be sent?

A

before or w/in 30 days after notifying CRA of negative info

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29
Q

What is Reg DD decimal place req for APY?

A

2 decimal places

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30
Q

What is timing for corrected TRID LE?

A

NLT 3 bus days within receipt of info requiring revision and 4 bus days before consummation

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31
Q

What are Reg W secured percentages?

A

100% sec by US gov’t obligations, 110% state gov’t, 120% other debt (corp debt/loans), 130% other (stock, non loans)

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32
Q

What is IRS withholding when docs can’t be collected or are invalid?

A

28%

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33
Q

When should CTRs be filed?

A

15 days after transaction, 25 if electronic

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34
Q

What is Reg DD periodic statement requirement?

A

no quarterly req but if sent must contain amount of interest, APY

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35
Q

What is Reg D withdrawal limit?

A

Can’t withdrawal >6x/month from savings or MMA

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36
Q

What is monetary instrument record threshold?

A

> =$3k

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37
Q

How often verify eligibility for CTR exemptions?

A

annually

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38
Q

How long after finding APR/ pmt error does FI have to correct?

A

60 days

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39
Q

What is the creditor threshold for exclusion from TRID?

A

<5 mortgages a year

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40
Q

What is TCPA length of a call?

A

can’t hang up <15 seconds or 4 rings

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41
Q

what are sunshine act agreements?

A

pmt to affiliate or NGEP >$10k or loan >$50k

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42
Q

What is Reg U coverage?

A

borrowers whose loans >$100k secured by margin stock require statement of purpose (based on loan amt not stock value)

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43
Q

When annual report for OFAC?

A

Submitted 9/30 with data as of 6/30

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44
Q

What is acceptable abandoned call rate?

A

<=3% are abandoned meaning not connect to live operator in 2 seconds, measured over 30 days

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45
Q

What is Reg E periodic statement timing?

A

mandatory monthly if EFTs, quarterly if no EFTs

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46
Q

What is eviction protection for rent in SCRA?

A

$3300

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47
Q

What is community development loan in CRA?

A

based on primary purpose (CRA uses revenue, HMDA uses income) <=$1mm

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48
Q

What is garnishment acct review period?

A

2 bus days to review if funds should be protected looking at each acct

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49
Q

What is Reg O control and presumed control?

A

Control: >=25% election/majority of board; presumed control: active as EO or director with >=10%

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50
Q

What is Flood definition of improved structure?

A

structure >50% above ground

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51
Q

How long is military fraud alert displayed & how long exempt from pre screens?

A

displayed at least 1 year, will not offer another credit report, excl from pre screenings for 2 years

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52
Q

How long to incorporate Junk Fax opt out requests?

A

30 days

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53
Q

What is Reg II record retention?

A

5 years

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54
Q

How long must FI honor internal TCPA DNC list?

A

5 years

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55
Q

How long to solicit public opinion in CRA strategic plan, how long is plan effective?

A

30 days; plan in effect for >1yr but <5 yrs, can bail out at 2 years

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56
Q

What is Reg DD record retention?

A

2 years

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57
Q

What is Reg Z LO compensation record retention?

A

3 yrs after payment or consummation (ATR, QM calc)

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58
Q

When is SCRA HUD 1 notice sent?

A

Sent once in default 45 days

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59
Q

What is a Reg M renegotiation?

A

lease renegotiated or extended by >6 mos = new lease

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60
Q

What is RESPA home counseling process?

A

Provide recent (<30 days) list of 10 counselors w/in 3 bus days of completed app

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61
Q

What is Reg W bank and single affiliate limit?

A

<=10% capital & surplus; <=20% aggregate all affiliates

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62
Q

When determine MLA status?

A

at obligation initiation or 30 days before

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63
Q

What is Reg Z closed end unit thresholds?

A

<=2 loan to consumer so bus purpose if 3; <4 consumer improvement to property so bus purpose if 5

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64
Q

How often register MSBs?

A

Every 2 years

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65
Q

What is RESPA request for info?

A

respond w/in 5 bus days. if requesting info on owner of mtg: 10 bus days. if on mtg bus: 30 days

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66
Q

What is a Reg E pre auth transfer?

A

in advance + regular intervals +same payor + at least every 60 days

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67
Q

What is expired info prohibited from a credit report?

A

info > 7 yrs old, bankruptcies >10 years old,

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68
Q

When does furnisher notify consumer that negative info was reported to CRA?

A

within 30 days after notifying CRA

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69
Q

What are financial disclosure reqs?

A

annual report as of 12/31 produced to those requesting by 3/31, to public 4/15

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70
Q

What is Reg E foreign remit rule for cancellation?

A

received within 30 minutes after pmt made, refund w/in 3 bus days of receiving request

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71
Q

How long is initial fraud alert displayed & how many extra credit reports does consumer get?

A

90 days, 1 add’l credit report/12 months

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72
Q

What is notice period for business w/ gross rev >$1mm?

A

reasonable period of time, 60 days of denial if cust requests notice

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73
Q

What is TCPA record retention?

A

24 months from when record produced/sale

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74
Q

What is reporting deadlines for IRS?

A

1/31 to customer, 2/28 to IRS paper, 3/31 IRS electronic

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75
Q

How long is extended fraud alert displayed & how many extra credit reports does consumer get?

A

requires ID authentication & proof of theft: 7 years, get 2 add’l free so 1/quarter initial year

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76
Q

What is a reg z small creditor?

A

=1 rural mtg

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77
Q

What is Reg Z closed or open transaction threshold?

A

57,200; mortgage no cap

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78
Q

How long escrow HPML if 1st lien?

A

5 years

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79
Q

What is NDIP high net worth customer threshold?

A

> =$5m excl residence & liabilities

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80
Q

What is max loan value of Reg U?

A

50% so $50k (aggregated for each customer)

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81
Q

Who must adhere to Interchange Fees Reg II?

A

bank and affiliate >$10b

82
Q

What is HPML safe harbor?

A

APR <=1.5% APOR 1st lien; 2.5% first lien jumbo loan; 3.5% subord lien

83
Q

What are appraisal thresholds?

A

> =$250k residential, >=$1mm commercial; loans

84
Q

What is record retention for large business under ECOA?

A

60 days unless special then 12 mos

85
Q

What is FDIC grace period when someone dies?

A

6 mos

86
Q

What is Reg Z OE OD opt in consent time period?

A

reasonable opp to opt in (usually 30 days), revoke in writing, cant charge over limit fee in >3 billing cycles

87
Q

When is escrow disclosure required under RESPA?

A

45 days of establishing acct or settlement

88
Q

What is HPA good payment history?

A

borrower not 60 days PD in past 24 mos, not 30 days PD in last 12 months

89
Q

How long is W8 BEN or W8 BENE valid?

A

For CY executed + 3 years

90
Q

What is Lending Limits threshold?

A

15% capital/surplus for individual; all insiders as a group <100% c&s; if common enterprise: 50% c&s

91
Q

Who is covered under Reg E foreign remit rules?

A

C2C, C2B, 100+ remittances in past 2 CYs

92
Q

What is Flood def of small lender?

A
93
Q

What is IRS reporting for 1099B?

A

Mailed 2/15 to customer

94
Q

What are Reg O EO lending exclusions?

A

OD

95
Q

What is CTR threshold?

A

> $10k

96
Q

What is Flood borrower notice?

A

reasonable time period before closing (usually >=10 days)

97
Q

What is info sharing opt out time under Reg P?

A

within 30 days of notice for FCRA-affiliates & Reg P non affiliates

98
Q

When must furnish complete dispute investigation and notify consumer of results?

A

30 days, can be 45 if provided add’l info

99
Q

What is record retention of Reg U?

A

3 yrs after loan satisfied

100
Q

What is Internal Revenue Code for serving bank & customer?

A

Serve bank, serve customer w/in 3days of serving bank. customer has 20 days to begin civil suit to object so bank waits 23 days after being served before releasing record

101
Q

What is de minimis for SAFE Act?

A

> 5 applicants in rolling 12 months

102
Q

What is Reg II reasonable fee?

A

21 cents (base) + 5 (bps) + 1 cent fraud prevention

103
Q

When notify customers of increasing delays of shortening delays under Reg CC?

A

30 days before if neg, 30 days after if psoitive

104
Q

What are extension of credit exemptions from Reg O?

A

salary advances <30 days, CC’s <=$15k, OD<=$5k

105
Q

What is Reg Z OE CC fee limit? Penalty fee max?

A

<25% credit limit in first year; $25

106
Q

when is CHARM & ARM disclosure given?

A

at application or before paying non refundable fee, if by phone/broker then within 3 bus days

107
Q

What is Reg E error resolution for foreign transmit rules?

A

if sender reports w/in 180 days, provider has 90 days to investigate, send results in 3 bus days, refund in 1 bus day

108
Q

What are RESPA covered loans?

A

construction only, vacant land >25 acres, consumer purpose 1st lien res property principally for 1-4 fam occupancy (indv, dirt, dwelling)

109
Q

What are acceptable telemarketing times?

A

8am-9pm

110
Q

What is record retention for ECOA consumer records?

A

25 mos

111
Q

What is Flood record retention?

A

life of loan, SFHDF form & receipt of notice for period of time bank owns loan

112
Q

What is reasonable time under FCRA to allow opt out of affiliate marketing?

A

generally 30 days (like GLBA)

113
Q

What are covered HOEPA loans?

A

> 6.5% for 1st lien or >8.5% for sub lien OR loan pts/fees >5% where loan greater than $20 579 OR pp penalty >36 months

114
Q

What are HPML appraisal reqs?

A

exception

115
Q

What is ECOA appraisal notice time requirement?

A

provided within 3 bus days of taking application, copies given if 1st lien on dwelling

116
Q

What is TCPA definition of EBR?

A

closed acct w/in last 18 months or customer inquiry in last 90 days

117
Q

What is Reg Z open end non CC periodic statement req?

A

at least quarterly & each billing cycle w/ >$1 FC. mailed 21 days before (CC’s) or 14 days (all other open end) from date delivered not due date or expiration of grace period

118
Q

What is MLA national guard service requirement?

A

180 consecutive days full time

119
Q

What is Reg CC non continental delay for deposits?

A

add one add’l day to limits

120
Q

What is licensed appraiser definition?

A

performing on properties 1-4 families

121
Q

What is CRA small business loan test?

A

based on loan size not business size, loan

122
Q

What is Reg DD acct opening disc reqs?

A

give prior to acct or svc provided, if not present- mail NLT 10 bus days after acct opened

123
Q

When must FI stop sending advertising per CANSPAM?

A

10 days

124
Q

What is MLA active duty requirement?

A

> 30 days

125
Q

What is MLO registration time req?

A

30 days if info becomes inaccurate, 60 days if merger/acquisition

126
Q

What are Reg O EO lending limits?

A

lesser of <2.5% capital or $100k; agg limit <=15% c&s, add’l 10% if amt over 15% is secured

127
Q

What are Flood loan exceptions?

A
128
Q

How long is FCRA opt out good for?

A

5 years

129
Q

How long can a cust authorization be granted for under RFPA?

A

3 months

130
Q

What is error resolution timeline if error & no error in Reg E?

A

if error occurred: correct in 1 bus day, notify in 3 bus day. if error didn’t occur: honor items 5 bus days after notification

131
Q

What is QM safe harbor?

A

APR <1.5% above APOR for 1st lien. APR <3.5% above APOR for jr lien

132
Q

What is error resolution for Reg Z OE CCs?

A

billing error notice rec from cust w/in 60 days after 1st statement w/ error; w/in 30 days mail acknow of notice, correction or notice of no error. investigation complete w/in 2 billing cycles <90 days

133
Q

What is CTR exemption phase 2?

A

5 transactions in 1 year >$10k + customer for 2 months

134
Q

What is notice period for business w/ gross rev

A

at application or 30 days after completing

135
Q

When to return premiums & funds for HPA?

A

all premiums returned w/in 45 days, insurance back to servicer w/in 30 days from servicer notification to cancel

136
Q

What are single, join, rev thresholds under FDIC?

A

Single =$250k, joint=$500k, rev informal (ITF, ATF, POD) and formal(living/family trust)

137
Q

What is RESPA servicing transfer requirement?

A

if CE 1st lien mortgage, notify w/in 3 bus days of app to unique addresses

138
Q

Who is exempt from Reg Z OE repayment disclosures?

A

cardholders that have paid their acct in full for 2 consec months

139
Q

What is record retention for small business records under ECOA?

A

12 mos

140
Q

How often re file SAR for continuing activity?

A

every 90 days

141
Q

What is RESPA servicing transfer notice req?

A

15 days before transfer from goodbye servicer, 15 days of effective date from hello servicer

142
Q

What is RoR timing?

A

midnight at third BD after consummation, delivering 2 copies of RoR notice, or delivering CD

143
Q

What is rate limitation time frame for non mortgage SCRA?

A

180 days after end of active duty

144
Q

When is ATP (OE) or ATR (CE) performed?

A

at acct opening or increasing credit

145
Q

What are Reg O director lending limits?

A

prior board approval for loans >5% capital or $500k

146
Q

What is OFAC record retention?

A

5 years

147
Q

What is Reg Z record retention?

A

2 years unless mortgage then 5 years

148
Q

What banks are covered under HMDA?

A

> $44mm assets AND office in MSA; de minimis= 25 CE or 500 OE as of 12/31 prior 2 CYs

149
Q

What is ATR record retention?

A

3 yrs for evidencing calculation

150
Q

What is Reg E foreign remit rule threshold?

A
151
Q

What is Reg E cust responsibility if lost access device?

A

if notice w/in 2 bus day and 60 days of transmittal: lesser of $50 or unauth transaction. notice w/in 2 bus day and after 60 days of transmittal: $500. no notice w/in 2 bus days and after 60 days transmittal: unlimited

152
Q

How quickly provide copies of CRA report?

A

5 days

153
Q

If true hit on OFAC, when report to Treasury?

A

10 days

154
Q

When file exemption for listed entities for CTR phase 1 exemption?

A

within 30 days of exemptible transactions

155
Q

What is 1099S amount for exceptions?

A

$250k single, $500k joint

156
Q

What is Reg M record retention?

A

2 yrs after disclosures made

157
Q

What is 1099R withholding?

A

10% federal, non IRAs 20%

158
Q

What is Reg Z PEL acceptance period?

A

30 days w/ 3 bus day RoR

159
Q

What is APR tolerance for regular loan (single advance) and irregular?

A

1/8 of 1% ; 1/4 of 1%

160
Q

What is RESPA allowable secondary market payment threshold?

A

reasonable if take loan app and perform 5/14 compensable services

161
Q

What is a Reg E new account?

A

any account is new for first 30 days

162
Q

How often must Reg P annual notice be sent?

A

Rolling 12 months

163
Q

What is HPA record retention?

A

2 years

164
Q

What is time process for subpoena or formal written RFPA request?

A

Wait 10 days from service from agency or 14 days from mail before releasing record

165
Q

What is resident alien in country exception to IRS withholding?

A

<180 days

166
Q

What point font must SCRA waiver be?

A

12 point

167
Q

What is Branch Closing timing requirement?

A

90 days to regulator, 90 days to customers, 30 days sign on door

168
Q

What are Flood insurance requirements?

A

single fam residential=$250k, non res=$500k; res contents=$100k, non res contents =$500k; deductibles res=$10k, non res $50k, condo $25k

169
Q

What is Reg Z OO duration time?

A

15+ days

170
Q

What is surplus/deficiency/shortage escrow amount under RESPA?

A

surplus >50: refund w/in 30 days. surplus <50: refund or credit next year pmt. shortage <1 month: repay in 30 days. deficiency<1mo: require repayment in 30 days.

171
Q

How long are 314b notices good for?

A

1 year

172
Q

What is intermediate small bank under CRA?

A

> 321mm but <1.284b in prior 2 CYs

173
Q

What is small bank under CRA?

A
174
Q

When is CRA data reporting due?

A

3/31, same as HMDA

175
Q

What is TRID CD delivery?

A

3 bus days before consummation

176
Q

When to make copies under Reg Z & M?

A

before closing, give to lessee

177
Q

What is BSA record retention?

A

5 years

178
Q

How does does a CRA have until notifying a consumer after receiving notice of ID theft?

A

30 days

179
Q

When is ECOA AAN provided? What is counteroffer time period?

A

within 30 days after completed application, taking AA on incomplete app or AA on existing account. 90 days for applicant to accept counteroffer

180
Q

What is garnishment lookback period?

A

2 months (not 60 days): protected amt is lesser of balance or pmts received

181
Q

What is Reg CC ATM disclosure rule?

A

Must disclose if deposits not removed >2x/week

182
Q

When is notification of breach required per HITECH?

A

60 days

183
Q

How long for approved application in ECOA to be considered withdrawn?

A

30 days of no response (no AAN required)

184
Q

What is a related interest under Reg O?

A

insider owns >=25% voting securities or controlling influence; or EO/D AND >=10% voting securities; or owns 10% + no one has greater percentage

185
Q

What is Reg CC record retention?

A

2 years

186
Q

What is COPPA record retention?

A

3 years

187
Q

When disclose ATM fee in Reg E?

A

in advance on screen or paper, can term b/f fee assessed

188
Q

What is RESPA error resolution notice?

A

acknowledged w/in 5 bus days of receipt, 7 bus days to investigate. 30 bus days to resolve (can add 15). FCRA uses cal days

189
Q

What are limits for rate increase or expiration of promo rate for Reg Z OE CCs?

A

no increase in FC, rate, fee for 1st year; no increase in promo rate w/in 6 mos

190
Q

What is HPA LTV requirement?

A

80% borrower can request cancellation, 78% mandatory, 77% high risk loans

191
Q

What is Reg E record retention?

A

2 years

192
Q

When does TRID LE get sent?

A

3 bus days after application, NLT 7 bus days before consummation/closing

193
Q

What is RESPA loss mitigation?

A

contact borrower within 36th day of delivery, written notice NLT 45 days. if loss mit app received, acknowledge in writing in 5 bus days of receipt

194
Q

What is timeline for Reg E stop pmts?

A

oral or written 3 bus days before scheduled trans date, bank can require written conf w/in 14 days if oral

195
Q

What is garnishment record retention?

A

2 yrs from when FI receives order

196
Q

What is CRA test percentage?

A

50% lending 25% investment 25% service

197
Q

What is RESPA escrow opening & closing requirement?

A

12 mos w/ 2 mos escrow; annual analysis every 12 months; closing NLT 2 bus days before acct closed if cust requests, 30 bus days if other reason.

198
Q

When must data furnisher notify consumer if dispute frivolous or irrelevant?

A

5 business days

199
Q

What do changes to LE before & after consummation do to CD?

A

if before: 3 bus day waiting period. if after but <30 days: mail within 30 days. 60 days if non numerical clerical error. 60 days to refund overpayment

200
Q

What is time process for search warrant under RFPA?

A

90 days after search warrant served

201
Q

What are interstate branching rules for Loan to deposit ratios?

A

ratio in covered state > 50% ratio in host state

CRCM Dates (1 decks)

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