Remote Deposit Capture - Regulation O

Posted By: jzirbes

Remote Deposit Capture - Regulation O - 07/01/08 05:21 PM

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)?
Posted By: RR Joker

Re: Remote Deposit Capture - Regulation O - 07/01/08 05:30 PM

It's not discussed within Reg O...FWIW, we used one of our director's companies as our GP when we first started RDC.
Posted By: rlcarey

Re: Remote Deposit Capture - Regulation O - 07/02/08 01:00 AM

Typically, there is no actual credit line established - only an internal guidance line. An internal guidance line would have no consideration under Regulation O.