Most Popular Compliance Content
Account Number Truncation
08/16/2004
Our cash advance terminals have all been reprogrammed for truncation compliance. We have always put the cardholder's information on our General ledger slips - name, card number and expiration date, and approval number. I have asked our vendor, who we have our credit card business with, if we can still do that. They have answered that we can because it is for bank business. Someone here at the bank is still questioning if we are allowed to put the credit card number on our GLs. Could you please clear this up for me?
Improper Reasons for Returning a Check
08/16/2004
We have a bank that returns checks that are "account closed" as "NSF". I have looked through several publications and cannot find a referral to this issue. What can I cite to make them correctly show the reasons for returning the items?
Credit Bureau Reporting
08/16/2004
Is a bank required to report to the credit bureaus on all borrowers or just first two on a primary residence loan?
OFAC SDN List
08/16/2004
Do all branches of an institution have to have a hard copy of the SDN list to be in compliance with OFAC, or can we provide the SDN list on our intranet site?
Check Cashers CIP Requirements
08/16/2004
I was told the regulators will be viewing our account owners which perform check cashing services and ensuring that we document that they have CIP procedures in place. Is this required and could you provide a cite?