The FDIC and safe deposit box services
01/28/2024
Are safe deposit box services non-deposit products under this rule?
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.
01/28/2024
Are safe deposit box services non-deposit products under this rule?
01/21/2024
Are FDIC Official Signs required at our ATMs?
01/21/2024
What’s the latest word on overdrafts and overdraft fees?
01/21/2024
I have a CTR question I have yet to see posted anywhere. Any cash transaction(s) more than 10K to a joint account by any conductor is a CTR. However, what if there are multiple (3) joint accounts. EX: $5,000 cash deposit by Suzy to account A; $5,000 cash deposit by Suzy to account B; $1,000 cash deposit by John Doe to account C. All 3 accounts are jointly held by the conductors. Would this be considered a CTR because Suzy and John can benefit from the $11K, via separate accounts or exempt because not more than one person conducted to a single (one) joint account?
01/14/2024
Are policies and procedures required by the new rule?
01/14/2024
Have there been any significant BSA/AML penalties imposed on banks?
01/14/2024
Is a check payable "FOR" someone the same as a Representatives Payee? I've seen checks that do not have "Representative Payee for..." just "For..." John Doe FOR Sally Doe Is this sufficient, or what should it read?
01/07/2024
When will FinCEN raise the threshold for CTR reporting?
12/31/2023
What changes were there for payments processing?
12/24/2023
What’s next for ACH growth?