Vendor Guru Q&A - Compliance

Latest Compliance - Signature/Signature Card Topics

Add POA to Signature Card or Just in File?

06/07/2020

Does a POA need to be added to the signature card or just have the POA in the customer file?

Add Home Nurse to Elderly Person's Account?

02/02/2020

Can a home health nurse legally add themselves to an elderly person's account?

Best Practice for Signature Cards/Name Change

11/17/2019

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?

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?

Universal Signature Card for Multiple Accounts

07/08/2018

I am looking for a Universal Signature Card. Do you know if there are any banks using this type of document for customers with multiple accounts.

Who is a U.S. Person for tax reporting?

03/26/2017

If our customer has a Social Security number, do we mark “US Person” for tax reporting?

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.

TIN# Used On Bottom of Signature Card IOLTA/COLTAF

10/06/2014

Which TIN # is used on the bottom of Signature Card for a IOLTA and COLTAF account?

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

Transfer of Servicing Notice Signature Requirements

04/01/2004

by Lucy Griffin, BOL Guru
Guru Bios

Church/Credit Union: Non-government Organizations?

08/01/2021

We are going back and forth as to whether or not a credit union or a church are actually considered non-government organizations? Although we know that they are non-profit, I have read conflicting information and am trying to settle this internally.

Record Retention for Debit Card Dispute Docs

08/01/2021

How long do we need to keep debit card dispute docs? (What is the time of retention?)

Advertising-more than ECOA, TILA, TISA and Fair Housing

08/01/2021

Is following the standard Regs, B, Z, DD and fair housing going to ensure advertising compliance?

Handling Reg E claims on older transactions.

07/25/2021

If an EFT claim is made long after the statement is sent showing the transaction, the rules of investigation don't apply. So why do we investigate any of these claims?

Compliance Info on Paper Checks

07/25/2021

I was wondering if you could point me in the right direction as to where to find more information on compliance for paper checks? Whenever I place a stop payment on a paper check, there's a disclosure that says "this request will expire in 6 months in order to comply with regulatory requirements." For the customers who ask for a more in-depth answer, what can I tell them?

Latest Compliance - Signature/Signature Card Topics

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