On a CTR form, if the transaction is being completed by the owner of an entity do we check Person conducting transaction on own behalf in Part1, Person Involved in Transaction?
We have a customer who writes checks from his account at our bank (Bank A) and deposits them at Bank B. The account is overdrawn every morning. He then wires money from Bank B back to Bank A to cover the overdraft. The account is not being used as a business operating account. Each day the amount involved gets larger. How should we address this? Is there a specific Regulation we can site for closing the account?
Give Your Customers a Digitized Experience While Improving Your Organization's Regulatory Deficiencies
How do the growing regulatory requirements impact financial institutions and their customers' experience?
If a customer changes their name due to a marriage or divorce and we collect the appropriate documentation, why is it best practice to receive a new signature card?
If our Bank is adopting an account closing survey and they want to send it to closed account customers by text and email, does this fall under the CAN-SPAM rules? They are only requesting feedback, there is no promotional material.