Every HMDA reporting institution must have a Legal Entity Identifier (LEI), a 20-digit alpha-numeric code containing key reference information that identifies legal entities participating in financial transactions. For example, your LEI might look something like: 10Bx939c5543TqA1144M.
So... how do I get the LEI?
Happy HMDA submission day. Hopefully all of you have reviewed your LARs and feel pretty good about their accuracy. Now, it's time to start thinking about collecting 2017 data.
First, did you have less than 25 home purchase and refinance entries on your 2016 or 2015 LAR? If so, then you can celebrate, at least temporarily, because you are not subject to HMDA data collection and reporting in 2017. (...we will pause to give you a moment to celebrate...)
It's that time of the year again - to scrub your HMDA-LAR! For some reason, the topic of Guidance Lines of Credit (GLOC) seem to boggle the minds of lenders and compliance officers, as it pertains to HMDA. So, here's some guidance.
While performing branch reviews for our financial institution clients, I have come across several different procedures that bank employees use to access the bank's premises at the beginning of the day. The process of opening (and closing) the bank building can be the most vulnerable part of the workday for branch employees.
Our Financial Institutions team had a blast at the Florida Bankers Association’s 31st Annual Consumer Compliance Seminar and the #BankSocial Media Conference!
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