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#985834 - 07/01/08 05:21 PM Remote Deposit Capture - Regulation O
jzirbes Offline
New Poster
Joined: Dec 2003
Posts: 14
We are planning to launch our Remote Deposit Capture product and one of our directors would like to be the Bank's guinea. We will be running all prospective users through a credit / lending process. Is there anything addressing this product with regard to Reg O / Insider transactions (other than lending limits, board approval and preferential treatment)?

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Lending Compliance
#985845 - 07/01/08 05:30 PM Re: Remote Deposit Capture - Regulation O jzirbes
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,644
The Swamp
It's not discussed within Reg O...FWIW, we used one of our director's companies as our GP when we first started RDC.
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#986379 - 07/02/08 01:00 AM Re: Remote Deposit Capture - Regulation O RR Joker
rlcarey Offline
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Joined: Jul 2001
Posts: 77,294
Galveston, TX
Typically, there is no actual credit line established - only an internal guidance line. An internal guidance line would have no consideration under Regulation O.
The opinions expressed here should not be construed to be those of my employer:

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