TOPIC: Administration

Coronavirus response: follow along

Don't forget that we have a topic tag for Coronavirus.  Follow it here to see how other FIs are responding to the crisis in a number of ways:

Here's an interesting thread where FIs are talking about how they're changing their staffing to respond:


    Chief Compliance Officer at a bank ($326MUSA)
    We have a borrower that has been dependent on force place insurance for the 3 years.  This is an legacy 3 balloon note that we renew every three years.  The loan is up for renewal for both the insurance and the loan renewal.  Can we extend out the amortization to create payments that don't increase and also add escrow for the upcoming years force place insurance? This is a borrower occupied dwelling.  So Reg Z applies. Is there anything else we want to consider if we extend the amortization and escrow for force place insurance?

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        Letter of Indemnification Response

        Manager at a credit_union ($174MUSA)
        Does anyone have a respondent form-letter to answer an indemnification request for the reclamation of funds, that they would be willing to share with me?

        For example, our member accepts a check for the sale of personal items and deposits said check with our institution. Three weeks later, we receive a request from the FI the check was drawn on, to return those funds, because the check was written from a stolen book of checks. 

        I’m looking for a response letter that would courteously decline or offer partial remittance to the other FI, in the event that our member lacked sufficient funds to comply with the request, without divulging any sensitive information. 

          Monthly Financial Dashboard for Employees

          EVP at a credit_union ($180MUSA)
          I am looking for a simple Financial Dashboard that can be shared each month with all employees.

          Does anyone have anything like this? I was hoping for something high level, that could provide basic information to all the staff of the Credit Union. If you don't have a dashboard, do you share anything at all each month with staff? If so, what do you share.

          Thank you,

            safekeeping confirmations

            VP at a bank ($44MUSA)
            We go to extremes teaching our customers not to respond to request for confidential information.  We address this in every aspect, mail, email, text, phone calls, social media, and every way we can imagine.  Then we go and send positive confirmations out to them to respond to.  External auditors cannot understand why we have a poor response from our customers.  Granted the customers go to an extreme, but they become cautious, even when we tell them its a legitimate request (which seems to go against everything we are trying to educate our customers about).  The auditors response but we are not fraudsters and it has your signature on it. 

              Loan Officer Training and Tracking

              Chief Credit Officer at a credit_union ($107MUSA)
              Does anyone have a training and tracking program/criteria/schedule for loan officers that they would like to share?  I’m looking for objective ways to differentiate and document qualifications for lending authorities, pay grades, titles etc.  

              For example:

              A level 1 L.O. has done (these trainings) and has X amount of experience.  A level 2 L.O. has everything a Level 1 has plus…

              Thanks in advance,