We have a business that pays their employees by checks drawn off the same account. The employees sign the checks and gives them to the same person to cash the checks for them. The total of all the checks is >$10,000. The person bringing the checks into the bank to cash them, signs under the employee's name on all the checks. How should the CTR be completed? Is she the conductor for all the employees or is it on her own behalf?
We just acquired a bank and there are two particular accounts on which we requested funds back from this bank through the Fed about a year and a half ago. We were denied due “to untimely request”. The funds are now part of our company and we are wondering if we can just transfer those funds to our recovery GL? I understand that we would have to document every step but how do regulators feel about something like that.
Can the bank use information from approved closed-end mortgage loan applications (ie property LTV) to offer a pre-qualified HELOC product? Could the bank have the borrower sign an authorization at application of the closed-end loan that indicates the bank may use the information obtained to offer them other credit products that they might be interested in?
If a client has a Social Security card stamped for work only, can that be used for opening accounts in a bank?
Can there be beneficiaries on a Safe Deposit Box?