Most Popular Compliance Content
Family and Medical Leave Act
11/29/2004
We have a Personal Banker who has been out of the Bank for 14 weeks due to having a baby and then a few complications. She is coming back to work on Monday but she is requesting to only work part-time for two more months and then return full-time after that. Can we write her a letter and explain that if she chooses to work part-time then she would have to stay part-time until a full-time job opens, stating that we would need someone to work the position on a full-time basis? If she chooses to come back to work full-time, then we have reserved her previous position and she may have that according to FMLA. Can you provide draft wording for such a letter?
What is an ATS account?
11/29/2004
What is meant by ATS accounts? Is there a definition?
Aggregating multiple branch cash activity
11/29/2004
If a Private Banking institution with multiple branches has a client withdraw or deposit cash funds that aggregate to over $10,000 in one day among the branches, what is the bank's responsibility with regards to CTR filing? Are they expected to monitor client activity from one branch to another?
Right of Offset — Terminated Employee
11/29/2004
We have an employee who has been terminated. Her checking account is in an overdraft status. Can we offset her last pay, which is direct deposited into her savings account, to cover the overdrawn checking account? It would use all of her net pay to cover the overdraft.
Disclosure of "call" feature in time deposit
11/29/2004
Anticipating that interest rates may eventually re-peak and start downward again (long view), we're considering adding a "call" feature to our certificates of deposit. The contract would allow the bank to unilaterally redeem any such time account with notice to the customer in the bank's sole discretion.Is there special wording that we need to add to our Regulation DD disclosures?