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#152276 - 01/21/04 10:09 PM Centralization of MMDA Monitoring
Dolly Nugent Offline
Diamond Poster
Dolly Nugent
Joined: Nov 2000
Posts: 1,820
Southern California
I need a break from CRA/HMDA data.......

I am toying with the idea of centralizing the monitoring of MMDA accounts. This would include the preparation of warning letters to customers. We have 37 branches and I am wondering if there is anyone out there comparable in size that has done this. If so, please share the pros and the cons.
Dolly Nugent
Opinions expressed are my own.

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General Discussion
#152277 - 01/21/04 10:20 PM Re: Centralization of MMDA Monitoring
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 80,325
Galveston, TX
I've done this at every bank that had 100 to 5 branches for which I have worked. It's really the only way to ensure that it is handled appropriately and efficiently without exception. Of course we also always pushed things out of the branches to allow them the time to service the customer rather than do back office functions.
The opinions expressed here should not be construed to be those of my employer:

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#152278 - 01/21/04 11:02 PM Re: Centralization of MMDA Monitoring
Pale Rider Offline
10K Club
Pale Rider
Joined: Aug 2002
Posts: 34,318
under the Lone Star
100 branches here, it is centralized; the officer assigned the account is copied on actions and may be notified prior to actions (we do want to be a community bank and provide good service) --rant off now
Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.

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#152279 - 01/22/04 12:38 PM Re: Centralization of MMDA Monitoring
Kathleen O. Blanchard Offline

10K Club
Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,292
In my experience this works best centralized, large or small bank. It is the only way to control it. At my present bank we now have it centralized and account officers/branch managers are not notified ahead of time any longer. Too many were interfering and it caused too many violations. The entire bank now has the message and the letters go out and accounts are reclassified if there are too many violations. The bank was cited for non-compliance previously but was fortunately given the opportunity to fix it which was done is short order.

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#152280 - 01/22/04 02:19 PM Re: Centralization of MMDA Monitoring
AMXSteve Offline
Joined: Jun 2001
Posts: 75
Wilmington, OH, USA
We have 49 branches and have centralized MMDA monitoring for several years. It has worked very well. We send the branch that opened the account a photocopy of the letter that is sent to the customer so the branch will be aware of the situation if the customer were to come in. We also charge an excessive activity fee. The assessment of the fee is also centralized to eliminate exceptions by branches.

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#152281 - 01/22/04 02:41 PM Re: Centralization of MMDA Monitoring
Banker Boy Offline
Banker Boy
Joined: Oct 2003
Posts: 69
Our branch network includes over 500 branches. This process was centralized only a couple of years ago. I think that too many branches were not following the appropriate procedures. In addition, the process was quite burdensome on branch employees that are expected to service and sell.

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#152282 - 01/22/04 06:01 PM Re: Centralization of MMDA Monitoring
PABanker Offline
Gold Star
Joined: Dec 2000
Posts: 491
Blue Ball, PA 17506
We too have this centralized for number of years. It makes sencse as the reports are coming from our nightly processing and notices are mailed from operations. We actually keep a log for audit purposes along with the letters. We image all items for reference that our branch offices may access if a customer comes with an issue. It has worked quite well for us.

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