02/01/2002
The Federal Trade Commission has proposed changes to its Telemarketing Sales Rule ("TSR") and asked for public comment. One of the changes is triggered by provisions in the Patriot Act.
01/07/2002
Does Reg E require a new disclosure by Jan. 1, 2002? I read that somewhere but can't seem to find any more info on the details.
12/03/2001
Can a licensed check cashing business be exempted from CTR filing? I have always thought if they were licensed it was OK to exempt them, but now I am getting conflicting information.
12/03/2001
To reassure my superiors, please clarify the information on your article in Bankers' Hotline<a href="http://www.bankersonline.com/articles/bhv11n07/bhv11n07a18.html">Volume XI, Number 7 </a>in the Q&A section. You are stating that the liability for forged endorsements falls on the depository bank. We have been physically reviewing endorsements on checks over $750.00. This policy has been in effect for some time. Would it be OK for us to change our "written" policy to not include reviewing the incoming checks?
12/03/2001
I work at a local community bank, where we know all of our customers real well. Question: A check payable to corporation, customer brings in to cash. He is signer on account. Is there a problem as to why we would not cash the check, since he is one of the signers.
12/03/2001
Is it allowable to xerox a person's driver's license photo? Some tellers were doing this for non-customers cashing checks at our bank, but another employee says we cannot do that.
11/05/2001
I'm reading Reg CC and noticed it adressed "nonproprietary ATMs" but I'm wondering what the rules are for ATMs owned by the depository bank. Right now we have next day availability for ALL deposits and we're getting BURNED! We looking at changing some of our policies and the main change will come from the ATM side. If a customer makes a $500.00 (cash) deposit in an ATM owned by us how long can we hold the availability of that money? Same question using a $500.00 local check and a $500.00 nonlocal check (seperate deposits). Correct me if I'm wrong but in all of the above examples if the deposits were made at an nonproprietary ATM we could hold the customers fund for up to 5 business days...
11/05/2001
A longtime customer's employee has stolen checks from his business account. The employee was not an authorized signer on the account. Isn't there a provision in the UCC that says the bank is not liable for unauthorized signatures if the suspect is an employee?
11/05/2001
In the past year, my Bank has experienced an increase in losses due to bad checks (mostly because holds (1) are not being placed and (2) the hold is expiring before the check is returned. Management wants to implement a new hold policy where we place an exception hold on every deposited check that is not onus. I have told them they can't do this but they won't listen even when I explained the penalties involved. Any guidance?
11/01/2001
Question: I write corporate platform procedures and would like to know if you have any Regulatory information concerning "Late Return Claims" or "Claim of Delay"?