Review Alliance: Did You Know?


Did you know that its important the bank's fee schedule verbiage matches what is listed on account statements?

Ex. If your fee schedule states 'Overdraft Funds Paid Charge' the statement should reflect the same verbiage.

This can help prevent any unwanted UDAAP concerns.



Did you know that if you are continuing to charge for excessive withdrawals from savings accounts you must disclose the fee on your disclosures or fee schedule?

Letters sent to customers alerting them of the excessive withdrawals must state it is in violation of the bank's policy, not the regulation.

If the bank closes the savings account and converts it to a demand deposit account, the bank must send out the appropriate account disclosures.

Did you know that on the Loan Estimate (LE) - Services you cannot shop for,  the items listed have to be in alphabetical order.  Reasonable amount of time is generally accepted as being 10 days.

1026.37(f)(5)(ii) – “All other items must be listed in alphabetical order by their labels under the applicable subheading.”

Compliance Alliance has helpful tools such as TRID Line by Line to help with these rules


Did you know that a Flood Notification should be signed by the borrower within a reasonable amount of time before closing? 

Reasonable amount of time is generally accepted as being 10 days. 

Helps ensure that the borrower has plenty of time to have flood insurance in place prior to closing.