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Best of CIP Threads - Technology
For CIP week, we've scoured the Bankers' Threads to find the gems that pertain to CIP, contain useful advice and information, and shed light on the issues involved with this complex legislation. We've compiled these forum messages into a .pdf digest file for you to download. (Many of the discussions could have been placed into more than one category, so be sure and check the other main content sections. We recommend you download all six!)

Share a little CIP humor, or commiserate about your CIP frustration, by sending a quick ecard from the Office Humor section of the BOL ecard Exchange.

This 326 page will tell you about products and vendors who can assist you in implementing an effective Customer Identification Program under Section 326 of the USA PATRIOT Act.

What if you could find one location that would provide tools to help you with writing, checking, and implementing your CIP, identifying your customers, and satisfying the CIP notice requirements? You guessed it! We've done the work and organized the information for you. It's only a click away.
CIP Tools

Denying Refunds for Unauthorized ATM Transactions
If your customer claims that the ATM transactions were unauthorized, knows the suspect, and won't press charges, can you deny the refund?
Change in Reg E error resolution time frame?
We were told that under Reg E error resolution, POS transactions now only have 10 days instead of 20 along with foreign transactions and new accounts. Is this correct?
Credit Cards vs. Debit Cards: Disputed Transaction Time Frame
Is it true that there are differences in dispute resolution between debit cards and credit cards?

Security is Top Level Consumer Concern
A recent study by the TowerGroup found that while financial institutions are ahead of the curve in implementing IT security measures, consumers are still wary. Find out why and what you can do to reduce their anxiety.

States Looking at ATM Emergency Bills
The laws may be enacted somewhere else first but changes have a way of spreading rapidly. See what technology you may be expected to add to your ATMs.

A Faster Recovery System
Two technology players have joined forces to create a backup and recovery system that may appeal to banks that are too small for their own off-site back-up data center or that aren't located close to such a center.

New Services Available At The ATM
It's amazing to see the new services and features added to ATM machines. See what one small institution is doing.

Call $$$ For Cash?
The first transaction between a mobile phone and a traditional ATM took place during a pilot project in Denmark. And we know that will be just the beginning.

A New Degree of Verification
Software companies are now coming up with new ways to encode checks so that companies and their banks using positive pay can automatically detect and deter fraud.

IT Regulatory Hot Buttons
As it relates to IT examinations, what are the top "hot buttons" for regulators?
Does Reg E Apply to Business Customers?
Do business customers that receive a debit card fall under Regulation E disclosure requirements?
Online Loan Applications, Disclosures, and CIP
Do we have to give any disclosures out on the Web site to customers printing up a loan application? Will the customer have to come into the bank for the account to be opened?
Pre-paid debit cards & stored value cards: What's the difference?
Are there any regulatory issues with offering them (other than EFT Error resolution?) and are there any difference in offering one over the other?
Retention Requirements For Email and Network Files
How long should we retain the backups made and stored off site of email and network files?

First published on BankersOnline.com 9/08/03

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