Most Popular Compliance Content
HELOC Rescission
10/01/2004
Question: We have a customer who wants a home equity line of credit that will be used to purchase a new home. The line will be secured by the home being purchased.
Regulators Bounce Back
10/01/2004
From the beginning, the regulatory agencies have said it loud and clear: they don't like bounce protection.
Customer Follow-Up and Verfication of Requests
09/20/2004
For customer-initiated requests (auto debit setup, removal, name/address changes, due day changes, etc.), is there anything in the regs pertaining to follow-up letters that should be sent to the customer? Some banks send letters reiterating the request/changes made, whereas others don't.
BSA Training Requirements
09/20/2004
What is considered adequate training under the Bank Secrecy Act for bank employees? Might this vary based on their duties?
If It Is a Bad SSN, Do We File a SAR?
09/20/2004
If a person comes into the bank and wants to take out a loan, but we deny the loan because the social security number has not been issued or the number belongs to a deceased person, are we required to file a SAR? Technically the person is not a customer and no money has switched hands. Also, if we have an existing customer with deposit accounts who wants to take out a loan, and at that time we discover the same scenario with their social security number, should we file a SAR and close their accounts?