We occasionally have customers that have passed away and have no beneficiaries on the account. Do we have to continue to print their account
statements monthly or can we change it to print annually?
Do you have a form letter template or suggested text that can be used when we receive a legal issue from outside a jurisdiction we would otherwise have
to honor, stating we will not be responding and that legal issues must come from our areas we are subject to?
Are financial institutions required to give written notifications to customers when the bank gives credit for unauthorized ACHs?
Can you refer me to the guidance for assessing the BSA risk for coin operated amusement machines operated in convenience stores who happen to be
a customer of our community bank?
We are in Oklahoma. Our account owner has died, and her beneficiary is also deceased. Who gets the funds? Will it need to probate? The amount is less the $1000.00 and the family can't afford to see a lawyer.
We suspect a customer is being used as a mule and recently received a large ACH credit. The next day, he wanted to send an international wire with the
proceeds from the credit. His explanation of where the funds came from and what they are being used for has changed several times; therefore, we froze
the account and have the funds from the ACH credit on hold. Since we suspect he received the funds fraudulently, are we under any obligation to
release these to our customer?
Would failure to collect beneficial ownership information at account opening (CDD) or a reason for not needing CDD certification of beneficial ownership be considered a CIP exception?
If we offer a discount coupon from a local business to a consumer opening a checking account, is that considered a bonus under Truth in Savings?
Is there a timing requirement to return a Cashiers Check that is counterfeit?
Are other banks performing callbacks for customers completing online auto-enrollments? If not, what are the controls for preventing fraud?