Federal Advocacy
NBA meets virtually and in DC for visits with Nevada's Senate and House delegates.
State of Nevada
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.
Regulatory
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.
Compliance Alliance
Compliance Alliance Question of the Week
Q: We have an applicant who has requested a refinance on his primary residence, but the purpose of the additional loan proceeds will be to pay off a different lien on a different dwelling that he also owns. For HMDA purposes, should I report this as a Refinance since both liens are in the borrower’s name even if it’s not the same property?
A: Yes, that is correct since the HMDA definition of a refinancing does require that the borrower be the same but does not necessarily require that that the dwelling securing the loans be the same:
"Refinancing means a closed-end mortgage loan or an open-end line of credit in which a new, dwelling-secured debt obligation satisfies and replaces an existing, dwelling-secured debt obligation by the same borrower."
12 CFR 1003.2(p): https://www.consumerfinance.gov/rules-policy/regulations/1003/2/#p
Compliance Alliance offers a BSA / AML / OFAC Toolkit with a number of additional resources: https://compliancealliance.com/find-a-tool/by-toolkit/bsa-aml-ofac/
Also 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 info@compliancealliance.com and ask for our Membership Team.
Sign Up for a live Compliance Hub demo:
Compliance Alliance Hub 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 info@compliancealliance.com and ask for our Membership Team.
Sign Up for a live Compliance Hub Trust Demo.
Compliance Hub 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 info@compliancealliance.com and ask for our Membership Team.
Sign up for a live Mortgage Demo
Review Alliance – DID YOU KNOW?
Did you know that, in general, ChexSystems/QualiFile and credit reports should not be requested for minors?
- It is recommended that Qualifile and credit reports only be requested for customers who have reached the age of 18.
- OFAC should be checked for all customers including minors.
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)-683-0701 or email info@bankersalliance.org and ask for our Membership Team.
For timely compliance updates and resources, subscribe to Compliance Alliance’s email newsletters.
