This General Adverse Action checklist can be utilized as a tool for compliance review of all adverse action documentation before the form is sent to the consumer to help ensure all information is provided in a timely manner and applicable documents were provided. The checklist could also be used as an audit tool if your compliance department is reviewing adverse actions for possible issues. A bank should tailor the form to ensure that it meets any additional required documentation as it does not cover every possible situation. Further, the user will have to determine the applicability of many of the regulations noted on the spreadsheet (e.g. RESPA, government monitoring, etc.).

Click here to Download the General Adverse Action Checklist

Disclaimer

The tools provided above are designed to be accurate and current as of the date of publication. All tools provided are based off of our interpretations of the regulations. The tools provided above do not cover all sections of all banking regulations and those contemplating use of such tools should review, in detail, all applicable regulatory requirements and risk involved before implementation.