2.2 Features for US Region

This topic lists all the features that are developed only for US Region.

Below features are developed for US region:
  1. Regulatory and Disclosures
    1. Adverse Action Notice

      Bureau‑returned rejection codes are now automatically mapped to descriptions through Reason Code maintenance, and the mapped descriptions are stored and displayed in Adverse Action Notices.

    2. Regulation Z account Identification

      The system now flags the accounts under Regulation Z and automatically enables the required disclosures, APR calculations, and fee validations.

    3. TISA Disclosures

      Generates and displays TISA disclosures during the Application Documents stage for Savings, IRA Savings, MMSA, and IRA MMSA accounts.

    4. E-Sign Agreement (Consent-Based)

      The E-Sign Agreement appears in Document Generation only if consent is set to “Yes” in the Terms and Conditions. Document processing in Application Documents continues as usual.

  2. Applicant and Eligibility Controls
    1. Minor Onboarding

      The onboarding process for minors now allows emancipated minors to open accounts independently, without require a custodian, guardian, or joint holder.

    2. ECOA Multi-Applicant Validations

      System now enforces marital status and gender validations to all applicant in multi-applicant cases.

    3. Service Member Active-Duty Records (Unique Identifier) Key fields in the Applicant data segment are now mandatory. Each record is assigned a unique identifier, which is sent to Oracle Banking Party. All service member and related records are displayed in the ‘Armed Forces Eligible Applicant’ drop-down for selection, and the selected record ID is sent to the host to process active-duty benefits.
  3. Repayment and Offer Advice
    1. Holiday Treatment for Repayment Schedules

      Installment due dates are now automatically adjusted for Oracle Banking Retail Lending Servicing loans if a scheduled date falls on a holiday. The date will move forward or backward based on the product configuration and the applicable host holiday calendar.

    2. Rescission Clause in Loan Offer Advice

      The system now includes a rescission clause in loan offer advice. The rescission type, allowed period, and event can be configured at the product or segment level in the host system.

  4. Fees, Insurance, and Event Mapping
    1. Event Linking to Fees

      The system now displays the event associated with each fee or charge during host product mapping. When fees or charges are received from Oracle Banking Retail Lending Servicing, Oracle Banking Origination shows the corresponding event descriptions in the host product mapping data segment.

    2. Fee-to-Event Mapping

      Each fee component is now linked to a specific loan origination event to ensure it is applied at the correct stage. Event codes and descriptions are displayed as read-only for all host systems. Fee capitalization is allowed only during the Disbursement event.

    3. Insurance Configuration

      Insurance is now available as a configurable component along with interest and charges. Oracle Banking Origination can retrieve insurance codes, descriptions, and events from Oracle Banking Retail Lending Servicing, and multiple insurance components can be mapped to a single product.

    4. Insurance Collection

      Captures the insurance amount in Oracle Banking Origination and collects it at the event assigned to the insurance component. If multiple insurance components are configured, each component is collected at its designated event throughout the loan lifecycle, as defined in Oracle Banking Retail Lending Servicing.

  5. Products and Operations
    1. Loan Against Deposit

      Supports the loan origination against deposit products from Oracle Banking Accounts. Interest rates are retrieved from Oracle Banking Retail Lending Servicing and applied to the loan. Currently, only a single deposit account can be linked to each loan.

  6. Tax and Identification
    1. Tax Panel Date Validations
      • The Certification Date is required only when the TIN Status is “Certified”; otherwise, it is optional.
      • Both Certification Date and Tax Form Start Date must fall between the applicant’s Date of Birth and the current date and cannot be auto-populated.
      • For W‑8 forms, the End Date can be provided only if a Start Date exists.
    2. TIN-Based Search in Application Tracker

      Enables searching for applications using any valid TIN (SSN, EIN, ITIN, or ATIN), with or without hyphens, and the TIN number is displayed in the search results.

Parent topic: Release Enhancements