Posted By: BBoyd
Cross Account Transfer Policy - 11/09/15 06:38 PM
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.
Posted By: BBoyd
Re: Cross Account Transfer Policy - 11/09/15 07:20 PM
A federal agency examiner.
Posted By: Elwood P. Dowd
Re: Cross Account Transfer Policy - 11/09/15 07:45 PM
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.
Posted By: BBoyd
Re: Cross Account Transfer Policy - 11/09/15 08:17 PM
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!