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#1872433 - 11/19/13 04:07 PM Customer Cannot wait for disclosure
GoGreen Offline
Gold Star
Joined: Dec 2007
Posts: 288
PA
Of course it had to be bank employee( executive) that wanted to wire and could not wait for for disclosures due to going to meeting. How can we handle this issue? Of course now all want an exception process procedure to handle these situations.

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Remittance Transfer Rule
#1872640 - 11/19/13 09:10 PM Re: Customer Cannot wait for disclosure GoGreen
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Consumers (the bank exec is a consumer) can't waive their rights to disclosures. They don't have to read them or retain them; but you cannot elect not to provide them.

I don't recommend writing an exception into your procedures. It will come back to bite you in an exam.

If you're trying to delay your receipt delivery to the end of the cancellation period (30 minutes), your process is wrong. The receipt timing is meant to provide the receipt at the time the consumer gave you the money (or the OK to charge his account) for the transaction.
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John S. Burnett
BankersOnline.com
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