Google; Adverse Actions and Loan Mods
Posted by Anthony Demangone
Oh, Google. How I love thee. Seriously.
Every compliance officer should remember how powerful Google is when doing compliance research. And Google is more than you think. Here are two examples.
- Google Scholar.  "We're enabling people everywhere to find and read full text legal opinions from U.S. federal and state district, appellate and supreme courts using Google Scholar. You can find these opinions by searching for cases (like Planned Parenthood v. Casey), or by topics (like desegregation) or other queries that you are interested in. For example, go to Google Scholar, click on the "Legal opinions and journals" radio button, and try the query separate but equal. Your search results will include links to cases familiar to many of us in the U.S. such as Plessy v. Ferguson and Brown v. Board of Education, which explore the acceptablity of "separate but equal" facilities for citizens at two different points in the history of the U.S. But your results will also include opinions from cases that you might be less familiar with, but which have played an important role." Wow. Is is good? Yes. I googled my name in this search engine and found this.
- Google U.S. Government Search. This search engine only looks at Federal, State and local government web pages. Nice.
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Recently, the Federal Reserve released a Consumer Affairs letter that touches upon whether you need to send an adverse action notice when a member requests a loan modification but does not get it. The letter is highly detailed and really walks you through the thought process of whether a Reg B adverse action notice is needed in a given situation.  This is a very good read.Â
Here's a link to all the CA letters. They are a nice resource.