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#2048797 - 11/09/15 06:38 PM Cross Account Transfer Policy
BBoyd Offline
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BBoyd
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MI
One of our offices was recently examined and a request was made for a "cross account transfer policy." They have a form, they have a procedure - where does it say a policy is required? Thanks.
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#2048808 - 11/09/15 06:51 PM Re: Cross Account Transfer Policy BBoyd
rlcarey Offline
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rlcarey
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Galveston, TX
Examined by whom?
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#2048817 - 11/09/15 07:20 PM Re: Cross Account Transfer Policy BBoyd
BBoyd Offline
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BBoyd
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A federal agency examiner.
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#2048824 - 11/09/15 07:45 PM Re: Cross Account Transfer Policy BBoyd
Elwood P. Dowd Offline
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Next to Harvey
NCUA, right? I know of no regulatory requirement, but based on most bank's abysmal lack of controls in this area, I think it's a good idea.
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#2048838 - 11/09/15 08:17 PM Re: Cross Account Transfer Policy BBoyd
BBoyd Offline
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BBoyd
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You are correct, Ken! And this is a small office with a manual cross-account transfer process. We thought the examiner may have meant procedures, but they re-stated "policy" and we could find no references anywhere. Thanks!
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