A customer had a charge out of his account six months ago. That’s old and means he has unlimited liability so we don’t have to investigate it. Is that right?
We think we heard Brian Crow say, at TopGun Mar. 2020), that if we acquire a loan from a non-covered institution, that did not collect Beneficial Ownership certification from a legal entity borrower, we now must do so. I'm looking for citation of that requirement in Regs or guidance etc. We're about to do exactly that scenario.
Can a bank place a hold on any check that is not next day item if there is not recourse in that customer's account at the time they present check to the teller for deposit?
I have a few questions regarding Reg CC: 1. For accounts less than a year old, and a check is over $500, we place it on a 2-day hold, is that allowable under the Reg? 2. For accounts open more than a year and checks more than $3k but less than $5k, we place it on a 2 day hold, is that allowable under the Reg? 3. Does Reg CC apply to A2A deposits or mobile deposits?
What’s the best way to streamline QC on new account documents?