Carleton, Inc.
Consumer Lending Software

Carleton Archive for 2013

The following articles and posts have been archived, so they may contain outdated information. For the most recent information, please view our latest news articles and blog posts by choosing an option to the left.

The APR: Semi-monthly Complications

There has been a marked increase over the past couple of years in credit plans being tailored to the payroll frequencies of respective borrowers and retail buyers. Creditors like the security of scheduling payments in accordance with how their customers get paid by their employers.

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Posted on Dec 31, 2013

Preparing for the 2014 HOEPA Regs

We’ve spent the last couple of months putting the finishing touches on revisions to the Carleton “HOEPA” module. Like any software update that deals with regulations, the bulk of the changes were fairly straight-forward. It is the nuances “around the edges” that always makes life a bit more interesting.

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Posted on Nov 08, 2013

Maximum Finance Charges... It's Not Just the Rate

The regulatory climate is about as uncertain and volatile as I have seen it in my 28 plus years at Carleton. Of course, the big dog in the room is the CFPB administering the Dodd Frank Act provisions. It is a task of such enormity that it’s, obviously, being done piece-meal over a several year period and leaving most of us with a sense of impending, “I wonder what’s next.”

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Posted on Aug 29, 2013

MOB Credit Insurance and the CFPB

It’s been an active month for regulation, to say the least. A minor deluge of state based July 1st law changes mixed with the CFPB’s upswing in both proposed and final regulations has made for an awful lot of reading, analysis, and retrofitting of existing programs.

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Posted on Jul 17, 2013

Keeping the "Truth" in Truth-in-Lending

From the first introduction of a bill to promote “Truth in Lending” in 1960 by Senator Paul Douglas of Illinois to its adoption and enactment in 1969, the first principle of the Truth in Lending Act is to ensure the American consumer is given the whole truth about the price he is asked to pay for credit.

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Posted on Apr 22, 2013

MOB Credit Insurance Premiums: It's the Rounding

With the inception of the 2002 HOEPA revisions, we saw a dramatic increase in the use of outstanding balance (aka “monthly remittance”) credit insurance premiums in conjunction with closed end credit transactions. That, of course, was due to the inclusion of single premium credit insurance premiums being included in the points and fees trigger introduced with the Act.

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Posted on Mar 11, 2013

Contemplating the APR

2013 has begun with a deluge of questions, issues, and investigative queries from a diverse cross-section of lenders in the consumer finance industry about the specifics of proper APR computations.

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Posted on Feb 12, 2013