Click to return to BOL home page
Banker Store Read A Reg BOL Insiders Career Connect Learning Connect Bankers Information Network


    Site Map

    Our Sponsors


Compliance Gurus
Lending Gurus
Security Gurus
Marketing Gurus
Technology Gurus
eBanking Gurus

Print Friendly! Email This Article! Discuss NOW!

Dual Control & Dormant Account Signature Cards
by John Burnett, BOL Guru

Question: Is there a law or regulation that requires signature cards attached to dormant accounts to be maintained under dual control and separate from all other signature cards?

Answer: It's unlikely, but there may be a state law that addresses this question.

Traditionally, records for dormant accounts were maintained under dual control to prevent a bank insider from "messing around" with the accounts without conspiring with someone else.

I believe this is an internal control issue rather than a legal or regulatory one.

First published on 07/21/03

Home | Compliance | Lending | Operations | Security | Marketing | Technology | eBanking
BOL Archives    Privacy Policy    Important Disclaimer   Recommend This Site !   Contact Us

BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.