Most Popular Compliance Content
Internal raffles matter
08/30/2020
Can we do an internal raffle (selling tickets for a chance to win a prize) to benefit a non-profit organization?
1099 Required for a $50 Refer-a-friend Bonus?
08/30/2020
We are trying to develop a Refer-a-friend program. We will offer a $50 bonus" for referring customer and a $50 bonus for the referred customer once the account is opened with direct deposit and they use a debit card a predetermined number of times in 60 days. We have a third party company that tracks referrals and bonuses which is trying to tell me I don't have to 1099 anyone because we're not paying the bonus at account opening - we're paying the bonus for meeting the qualifications of the program. Is a 1099 required for a $50 refer-a-friend bonus?
Type of Checks Deposited in Estate Account
08/30/2020
What type of checks can be deposited to an estate account? If a check is made payable to Frank Smith and he is deceased, can that check be deposited into the Frank and Jane Smith Estate account?
Aggravated ignorance doesn’t void a Reg E claim
08/26/2020
Why can't we hold a customer or member liable for having the PIN with the card?
Facebook and Drawings
08/23/2020
Can we advertise a drawing on social media only?