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#985834 - 07/01/08 05:21 PM Remote Deposit Capture - Regulation O
jzirbes Offline
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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.
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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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rlcarey
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.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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