Most Popular Compliance Content
On Schedules, Deadlines, and Priorities
10/01/2004
If you've been following banking news lately, it seems as if every week there's a new deadline for regulations or training or reports or audits or examinations that has to be met.
Hawke Leaves Bankers with Firm Advice
10/01/2004
The Comptroller of the Currency has announced his retirement from government service.
OFAC Sanctions
10/01/2004
OFAC has extended the comment period for its proposed actions against two financial institutions from September 23, 2004 to November 1, 2004.
Disposal of Credit Report Information
10/01/2004
One of the FACT Act's new requirements is that creditors dispose of information obtained in a credit report in a timely fashion.
Line of Credit Statement Required
09/20/2004
Our bank offers a personal line of credit that also acts as overdraft protection. Advances from the line are in a minimum of $50. There is no charge for the advance to cover an overdraft or overdraft fee from the DDA. We are sending out a notice to customers for each and every advance. In some cases this may be 3 or 4 a week. Is this necessary, as the monthly statement for both the PLOC and DDA would show the transfers? What regulations in particular would cover this?