Most Popular Compliance Content
Debit Card "Notice of Action Taken"
10/18/2004
We have recently started issuing debit cards and are not sure which "notice of action taken" should be used when a customer is declined a card. We have different types for loans and deposit products. Which should we use?
Tricks to Identify High-Risk AML Accounts
10/18/2004
Are the ineligible businesses for CTR exemption which are listed under BSA good candidates for being designated High-Risk Accounts for the AML program?
SCRA and the Interest Rate Reduction Requirement
10/18/2004
I have been reading the Servicemembers Civil Relief Act and I am confused about when the reduction in the interest rate should take place and who should initiate it. If the financial institution is aware of a member's active status after the loan commitment, should it automatically reduce the rate, or should the institution wait for the member to contact the institution?
Account Styling SSN vs EIN
10/18/2004
If a sole proprietorship account is styled Jane Doe dba Jane's Jeans, we would use Jane Doe's SSN for the tax ID. If Jane's Jeans has its own EIN, should the account be styled the same? I always understood the first name on the legal title should match the tax ID number.
Steps in Changing the Fee for a Safe-Deposit Box
10/18/2004
Can you tell me what the requirements are for notifying customers when there is an increase in charges for safe-deposit boxes? Are there rules stating how much notice we must give customers about such changes?