Disclosure reports... Agency or Public LAR?
When being audited by a state agency such as the Department of Corporations.... which report do you provide.. the Agency or Public LAR.. or is there anything that stipulates what information you give them?
Well.... we give them what ever they ask for[:D] Seriously, examiners will typically ask for the Agency LAR because they are looking to do some loan level review.
We have gone through a state exam and I provided the agency lar.
The modified LAR or public LAR is just that - for the public. It eliminates certain information that may allow for the borrower to be revealed. The regulators are entitled to the "books and records of the organization" and as such would be entitled to the agency LAR.
quote:Yeah, what she said. Though if you're an OCC regulated bank, you should probably keep them in the loop with any type of state exam. They take that whole pre-emption thing very seriously [;)].
Originally posted by Laurinda
Well.... we give them what ever they ask for[:D] Seriously, examiners will typically ask for the Agency LAR because they are looking to do some loan level review.