Most Popular Compliance Content
Final Rule in Reg D Regarding Transaction Limits
07/18/2021
I am wondering if the final rule in Reg D (effective 7/29/2021) regarding transaction limits would still be at the institutions discretion on whether or not they would enforce a limit or not?
New Deposit Account Tracking
07/11/2021
Tools for tracking new deposit accounts?
Business Authorized Signer: Backup Withholding
07/11/2021
Can an authorized signer sign on behalf of a business for backup withholding on a signature card? Our Backup Withholding portion states "Under penalties of perjury I certify that I am a US Person and that I am not subject to back up withholding." This verbiage is confusing our client. How can we explain to the signer the need to endorse on behalf of the business, or is that even required for a business account?
Retention for Hold Notice/Funds Availability Form
07/11/2021
Can anyone tell me what the retention period is for hold notices/funds availability forms? I have checked with our state bank department and this form was not specifically addressed. If it is not uniformly required, how long do other banks keep these Reg CC notices, and what about cash advance receipts (Visa)?
To Self-Report or Not
07/11/2021
During our routine internal audit, we noticed we had failed to file CTRs for one business because we thought they were exempt. Shall we self-report this error to my regulator?