Where can I find regulatory citation regarding the retention of copy of driver's license from CIP process on a loan application? Is it okay to retain in loan file or separate CIP file? Our concern is possible fair lending implications.
We have a Corporation customer that opened a new wedding event center. He wants the checks to be made out to the event center name but wants to deposit into his corporate account. Is there a document that we can use that states his corporation operates the following businesses? Smith Enterprise is the Corporation operating Smith Event Center Smith Catering Smith Restaurant Equipment
My friend who's currently incarcerated sent me to pick up her final paycheck from the Goodwill. After receiving the check, she sent me a letter giving me full permission to deposit and cash the check and spend the money as I see fit. With her behind bars, I can't have her sign the check over to me. She told me to do it myself over the phone but I was just wondering if the letter she sent me would be sufficient for me to legally cash it.
If a customer is disputing a transfer of funds between accounts on which she is a signer, whether it was done via online web, mobile phone, ATM, at a branch or over the phone with a banker, does this fall under the Regulation E guidelines?
May we accept a debit card and/or a credit card payment over the phone, using our credit card machine, to accept a payment for an in-house loan? (This is not a cash advance machine.) In Visa Core Rules #188.8.131.52 it states "At the option of Visa a Merchant may accept a Visa card as payment for an existing debt".