John began his banking career in high school when he started as a teller at a $15 million bank that didn't have account numbers for its checking accounts (he says they actually filed by signature!) He moved to Cape Cod Bank and Trust Company in 1971 and assumed the position of Compliance Officer in 1976. He also served as corporate secretary and secretary of CCBT's Board of Directors, and as clerk of the bank's holding company.
He was a member of the Massachusetts Bankers Association Legal and Regulatory Compliance Committee, and of the American Bankers Association Compliance Executive Committee and NCS/NGCS Advisory Board. He is a regular presenter and participant in BOL Conferences events.
You may contact John via email at jburnett@bankersonline.com.
03/31/2024
A supermarket converted a payroll check drawn on our business customer’s account into an ACH BOC (back-office conversion) entry. Our customer didn’t authorize the conversion, and she’s upset. Can we return this entry?
03/24/2024
When can we require a customer to provide a WSUD?
03/17/2024
How long do we have to return an unauthorized ACH debit entry?
03/17/2024
At what level should policy and procedures for handling garnishments and subpoenas be approved?
03/03/2024
Who should be responsible for managing the bank’s handling of garnishment orders and subpoenas?
02/18/2024
Will our FDIC examiners be reviewing how we handle garnishments and subpoenas?
02/18/2024
When are the FDIC’s revised rules effective?
02/18/2024
We have a business customer who had an employee negotiate their payroll checks a second time. This employee deposited their payroll checks through a mobile channel with their bank over a year ago and then deposited them again. They cleared our customers account because our duplicate detection only goes back a year. Our customer did not reconcile or review his accounts to notice the duplicate payments and wants to hold the bank responsible. They total about $11k. We already tried returning the checks for duplicate and as expected, they were returned for "Late Return". I am looking for any input as to how we can recoup the funds? The bank of first deposit (PNC) did take in stale dated checks as well as having their customer not adhere to mobile banking terms. Any input would be appreciated.
02/11/2024
Will we have to change our existing FDIC Official Signs at teller windows?
02/04/2024
We don’t use conventional teller windows or stations in some of our branches. What will the new rules allow us to do with the FDIC Official Sign?