Most Popular Compliance Content
Waiving Escrow
05/31/2020
We are working with a consumer mortgage customer and their escrow account for their insurance and taxes. They have a hardship case due to advanced age and declining health issues, and we are looking at ways to keep their payments as low as possible. I know that it is required by regulation to keep payment reserves in the escrow account, but if we reduce or waive those requirements could we still be cited for not following the letter of the regulation?
Timeliness of ACH stop payment
05/31/2020
If a customer requests a stop payment on an ACH debit (on the day of presentment), are we required to honor their request? Or since they've indicated they've revoked authorization, should we ask them to complete the WSUD instead?
Cashier’s check presented as ACH entry
05/31/2020
What can we do if one of our cashier’s checks is converted and paid as an ACH check conversion?
Updated ID for Existing Customer for New Acct?
05/31/2020
Are we required to get an updated photo ID on an existing customer when we open a new account relationship with them (i.e. a loan, DDA, savings, etc)?
Regular Children's Savings or UTMA?
05/24/2020
How do you know when to use a regular children's savings or to use the TX UTMA type of account?
