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Latest Compliance - Signature/Signature Card Topics

Signature Card Compliance (FDIC)

03/24/2019

We ​need more information about compliance when it comes to signature cards. We use add and remove forms for account owners, signers, and beneficiaries when the owner wants to make changes after opening their account rather than printing a whole new signature card that all account owners would have to re-sign. Are these compliant with FDIC​ requirements​ when it comes to distinguishing what type of insurance coverage they would have?

Physical Impairments When Signing Checks

01/31/2016

What are your experiences with customers whose physical impairments make it difficult for them to sign their checks? We have a customer who shakes badly when writing and signing and wanted to know if we should redraw the signature cards for his accounts. The banker assisting offered him some different options (facsimile signature stamp, signing with a "X") but ultimately didn't advise him to what he should do. We're just looking for some insight into these types of situations. We are in Missouri if that affects the situation in anyway.

Regulation B: The Signature Conundrum

05/01/2004

Ever since Regulation B first went into effect in 1976, the practice of requiring or obtaining a signature from a person simply because he or she was married to the primary borrower has been illega

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Reg E Question About Credit Card Fraud

10/25/2020

When a cardholder has a fraud alert on their card and they tell the fraud center that the transactions are NOT fraud, the fraud center reopens the card. Now the customer has roughly 10 or more charges from the same company that she just said were not fraud. Now she is claiming that they are all fraud. (including the original charges) What do we do?

Chamber of Commerce Cash & Prize Giveaway

10/25/2020

Our Chamber of Commerce is hosting a cash & prize giveaway to encourage people to shop local during the holidays. As a member of the Chamber of Commerce, the bank has been asked to pass out tickets as entries to win. Each business has a limited number of tickets. Employees of the bank are not allowed to obtain any tickets from the bank, but can from other businesses participating. My question is, can we offer multiple tickets as incentives for our customers to use other services we offer? Examples would be: 1) A customer comes in to make a deposit= 1 ticket. If they sign up for online banking while here we will offer an additional ticket. 2) A non customer comes in to cash a check= 1 ticket. If they open an account with us we will offer additional tickets. 3) A customer asks about a home loan= 1 ticket. If they qualify, they can earn additional tickets. If they decide to finance with us more tickets.

How to Complete a CTR for Local Diocese

10/18/2020

A question came up during a recent audit in regards to how a CTR would be completed for a local Diocese. This particular Diocese has a few different churches using the same EIN. Our system recognizes large currency transactions that we compare to see if a CTR was completed. My question is, would a CTR be filed on that specific church when deposits of cash are over $10k, or on the Diocese?

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