03/29/2023 Please see this fraud update from our friends at Investors Title. |
03/20/2023 Class action lawyers have found a new cause of action against banks--failure to send proper notice of a repossession sale. The first such class action lawsuit in this region was filed just a few weeks ago in southern Indiana. That cause of action is attractive to plaintiffs’ attorneys because if the notice of sale is insufficient there is an automatic penalty under UCC Article 9-625. |
03/16/2023 On Monday of this week the Department of Justice and the CFPB filed a "Statement of Interest" in a lawsuit challenging a lender's reliance on discriminatory appraisals done by a third party. |
03/08/2023 USDA Rural Development is conducting a review of all areas under its jurisdiction to identify areas that no longer qualify as rural for housing programs. The last rural area reviews were performed in 2017–2018 using 2015 American Community Survey (ACS) data. Rural area designations are reviewed every five years.Based on the 2020 census data, the following areas are under review for eligibility. |
03/07/2023 There are lots of ways to pay bills. Zelle is not necessarily my first choice, but sometimes I have to use is--my hairdresser (where did that term come from) only accepts cash or Zelle. So, I am not a Zelle expert.
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02/27/2023 Fraud, including check fraud, is the largest source of illicit proceeds in the United States and is one of the anti-money laundering (AML) priorities. In coordination with the United States Postal Inspection Service (USPIS), FinCEN has identified red flags to help financial institutions detect, prevent, and report suspicious activity connected to mail theft-related check fraud. |
02/06/2023 The US Secret Service Louisville Field Office is currently investigating a group who have gone to multiple banks and successfully cashed counterfeit U.S. Savings Bonds. The group cashes large amounts at a time. |
02/03/2023 The Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Letter today “to inform supervised institutions of recent changes regarding the Home Mortgage Disclosure Act (HMDA) reporting threshold for closed-end mortgage loans and the FDIC’s supervisory approach for enforcing related requirements. |
02/01/2023 Please read this fraud alert that the we received from one of our member banks. |