Most Popular Compliance Content
What does BSA have in common with CRA and why should I care?
05/07/2023
Banking is weird sometimes. In my banking job I’m told I need to know about both the Bank Secrecy Act (BSA) and the Community Reinvestment Act (CRA). I don’t understand what those two topics possibly have in common, and why I need to know them. Please explain it simply.
Consumer gave card info, fraud claim
05/07/2023
We had a recent scenario where scammers were using our FI phone number and claiming to be a bank rep contacting our customers. The consumer then supplied all of their debit card information as a way to "validate" their identity to the scammer and the scammer then used their card information along with the CVV and pin number the consumer supplied them to make multiple transactions. Under Reg E is the bank/CU liable?
Written request to withdraw Reg E claim required
04/30/2023
Do we need a written notice from the consumer to withdraw their claim?
Paying Preferential, Unadvertised Rates
04/30/2023
With our Money Market account, we would like to pay higher rates on some accounts to allow us to retain top clients. The rate may vary depending on the customer relationship. We would not be advertising these rates. Would there be any compliance concern with this practice?
Overdraft programs, strategy, and fair and responsible banking.
04/30/2023
Is your FIs strategic plan rely heavily on Overdraft programs and the fees they generate?