NBA meets virtually and in DC for visits with Nevada's Senate and House delegates.
Join NBA on our Next Visit: September 25-28, 2023 Western States Capitol Hill Visit (Registration & Details)
NBA works with state legislators during session years and with interim committees in off years. In additional to supporting efforts to promote financial literacy, affordable housing and economic development, we work to ensure Nevada is an environment where banks can provide the best products and services to customers.
Thank you to our GR Committee members for all of your work during session. NBA will be working closely with interim Nevada's legislative committees throughout the second half of 2023 and during 2024.
Scroll down for a copy of the End of Session Report.
Nevada Bankers engage with State and federal regulators regularly. Member feedback is a critical piece of helping regulators with their job of providing effective, safe and meaningful oversight. In addition lt irregular meetings with our State FID, NBA works closely with federal regulataors and also offers members a chance to engage in person during the Fall DC visit.
Q: Can I issue an access device off of a HELOC?
A: While not prohibited, there are some risks to keep in mind. The main federal compliance issue is that debit cards issued for HELOCs are generally considered "credit cards" for Regulation Z purposes, subjecting them to the Regulation Z credit card provisions.
Regulation Z's Commentary to 12 CFR 1026.2(a)(15)-2(ii)(C) states that "if a line of credit can also be accessed by a card (such as a debit card), that card is a credit card for purposes of §1026.2(a)(15)(i)", meaning that the debit card falls under Regulation Z's definition of "credit card".
Further, in accordance with 12 CFR 1026.12(d), since the debit card would be a "credit card" under Regulation Z, the bank would generally lose its right of offset under the regulation.
Compliance Alliance offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call (888) 353-3933 or email email@example.com and ask for our Membership Team.
Sign Up for a live Compliance Alliance demo:
Compliance Alliance for Trust
Trust Tools for Compliance is a stand-alone program designed specifically to assist and support wealth management divisions and brick-and-mortar money managers with their regulatory compliance needs. To learn more, call (888) 353-3933 or email firstname.lastname@example.org and ask for our Membership Team.
Sign Up for a live CA Trust Demo
Compliance Alliance for Mortgage
Bankers Alliance now gives you easy access to Mortgage Tools—a collection of proprietary regulatory compliance tools with more than 200 worksheets, checklists, trainings and more & a live hotline chat feature connecting you to attorneys and compliance experts—all designed to safeguard internal operations, strengthen business practices, and develop exam-ready organizations. To learn more, call (888) 353-3933 or email email@example.com and ask for our Membership Team.
Sign up for a live Mortgage Demo
Review Alliance – DID YOU KNOW?
Did you know that it is a best practice for all Mortgage Loan Originators (MLOs) to have their NMLS ID Number on their business cards and email signatures?
Review Alliance, an independent group of compliance specialists offering banks deep-dive audits of their existing transactions, recommendations about program enhancements or guidance on future safety and soundness. . In 2020, we added Virtual Compliance Officer - a new shared service-model using bank-dedicated compliance officers; perfect for monitoring and guiding your bank remotely. To learn how to put them to work for your bank, call (833)-683-0701or email firstname.lastname@example.org and ask for our Membership Team.
For timely compliance updates and resources, subscribe to Bankers Alliance’s email newsletters.