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#1520120 - 03/10/11 05:08 PM SHILL SIGNERS-Legal?
ComplianceGurl, CRCM Offline
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Joined: Jul 2007
Posts: 498
There are many times where I would rather not sign my name to a letter that I am mailing to a customer. Are shill signers legal to use? If so, can someone tell me how they do this, notifying employees?, phone calls?
Thanks!!

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#1520223 - 03/10/11 06:33 PM Re: SHILL SIGNERS-Legal? ComplianceGurl, CRCM
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Without knowing anything about what letters you are planning to use a fake name on, it's hard to say. You did remind me of an anecdote I posted in 2002 and I didn't have a problem with it:

Texas bank near federal correctional facility for men: Inmates (clearly with large amounts of time on their hands) would often write or call the bank concerning their accounts. They were extremely grateful for the prompt, courteous attention their phone calls and letters received from one of the bank's employees, Adelle Martin. After their release from prison, several stopped by the bank with a gift of candy or flowers for Miss Adelle. (One was hoping to take her to lunch.) Unfortunately, in each case, they learned that Ms. Martin no longer worked there and the bank had no information on how to get in touch with her.

There never was an Adelle Martin employed in the bank. However, when a letter, a call or a caller was received for her, bank employees automatically realized they were dealing with an inmate; someone with whom they might not want to develop a personal relationship; "Adelle" was a useful tool who allowed them to be at their best when dealing with their customers.
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#1520259 - 03/10/11 06:58 PM Re: SHILL SIGNERS-Legal? Elwood P. Dowd
ComplianceGurl, CRCM Offline
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Joined: Jul 2007
Posts: 498
Interesting Ken! The type of letters I had in mind were basically letters that the customer may not be pleased about. i.e. account closure due to unusual activity, etc. Especially if it was known that the individual had a short fuse or an employee felt threatened, even though an actual threat has not been made.

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#1520336 - 03/10/11 08:05 PM Re: SHILL SIGNERS-Legal? ComplianceGurl, CRCM
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,684
Cape Cod
I don't understand why bankers feel the need to explain when they close an account. A simple letter indicating that the bank has elected to end the relationship, instructing the customer to stop using the account at once and to ensure sufficient funds remain on deposit to cover any outstanding checks or other transactions, a suggestion to make immediate plans to have any electronic deposits redirected to another account, and a statement that the bank will send a check for the balance [10] days later are about all you need.

I have seen fictitious names used in the signature blocks on such letters (call them shills if you want).
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#1520360 - 03/10/11 08:24 PM Re: SHILL SIGNERS-Legal? John Burnett
MyBrainHurts Offline
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Joined: Feb 2010
Posts: 960
Illinois
Just use the bank name.

Sincerely (or Hugs and Kisses)

First State Bank of Whoville
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I thought getting old would take longer.

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#1520378 - 03/10/11 08:39 PM Re: SHILL SIGNERS-Legal? MyBrainHurts
ComplianceGurl, CRCM Offline
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Joined: Jul 2007
Posts: 498
We don't give reasons, however, that makes them upset as well for NOT giving a reason. Can't win I guess. I like the idea of just the bank name though. Thanks!

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