What is the retention time for drivers license copies?
Customer uses $3,500 cash in part to buy a $13,000 cashier's check. Is this supposed to go on the Monetary Instrument records? Does the rule (3000 - 10,000) apply to the cash used or the check total?
Are gift cards (prepaid access cards) considered monetary instruments that need to be recorded on a bank's monetary instrument log? I am aware of 2011 changes related to prepaid access cards and MSBs. Has the requirement for MIL record keeping for banks been expanded to include the sale of prepaid access cards?
Isn't there something that says that a customer is someone that has a depository account and not just a loan. So the person is NOT considered a customer until they have a deposit account. Is this correct?
What information should be included on the annual forms completed by insiders?
Loan originally for the purpose of "finish construction on Son's home." Processed as a unsecured consumer line of credit. Can purpose be changed to commercial line of credit using the same loan number with all new documents referencing commercial purpose?
How to Implement Risk-Based OFAC Monitoring Practices
Five steps to risk assessment; ten practices for monitoring
by Timothy R. White, CAMS
With regard to a refinance under HMDA guidelines, when extending a current obligation with a new promissory note, but keeping the same note number is it HMDA reportable? I'm not sure how to interpret the phrase "satisfies and replaces and existing obligation."
For Reg O under 215.8 record keeping for insiders, must we keep information on immediate family members, including spouses, minor children, and adult children living in the insiders home? Do we have to track or report this information?
At our bank we have to do screen prints of when we do OFAC checks. How long do you advise that we hold these copies for?