04/14/2024
Why is a permissible purpose needed to get someone’s credit report?
04/14/2024
We have a client who deposited a reportable cash transaction into he and his wife's trust account. We know we have to file the CTR for both wife and husband (joint account) but do we have to include the trust as a beneficiary?
04/14/2024
If using a software program, we become aware of a check drawn on our customers account is for sale on Telegram (a marketplace for help depositing a stolen checks) and it is over $25k would a SAR be required? We froze the item and to our knowledge the check was not purchased or negotiated.
04/07/2024
What are some of the more common violations examiners find today?
04/07/2024
If a bank has fraud on the banks official check account, who does the bank report that to? As we get notifications on other institutions fraud official checks we are unsure of how that information gets sent out.
04/07/2024
Can a bank offering cash advance services through Mastercard choose to stop offering that service?
04/07/2024
According to Reg E, if I need to reverse provisional credit from a customer and they do not have the funds in the account in the amount of the reversal, can I proceed even though it will leave the account in the negative? The customer has been notified verbally of the reversal and I will send the reversal letter via mail, but they have made no attempt to deposit the money to cover this. Can I proceed, regardless of if the funds are available and still be in compliance?
03/31/2024
What are the pro's and con's of New Accounts completing various Resolutions when opening business accounts?
I was advised by legal, that if we use ione, it needs to be board approved and we better know how to complete them accurately. If they are this binding or legal of a document, is it best to not use them? Our system generated resolutions are complicated and we are not completing them consistently.
03/31/2024
If a customer authorizes someone to use their card and gives them the PIN for a specific transaction, and that someone uses the card for additional transactions that were not authorized by the customer, is their any negligence by the customer for giving the card and PIN for the first authorized transaction? What are the requirements according to Reg E ?
03/31/2024
Our bank received an MRA (Matter Requiring Attention) to establish a testing/audit program due to a vacancy in the internal audit position for some time. We've engaged an external audit firm to perform the audit function starting this year. This firm was already engaged prior to our examination. I've never assisted with a response to an MRA and am wondering what format and information should be provided. Can you please share any key components or advice with me on this topic?