Do Estates Fall Under Beneficial Ownership Rule?
03/25/2018
Do estates fall under the beneficial ownership rule? This estate has a Federal ID number. This estate is being probated in our local county court.
Ken Golliher is a principal with Pegasus Educational Services, LLC., a training firm organized in 1996 with headquarters in Louisville, Kentucky. Pegasus specializes in technical and regulatory instruction for financial institution personnel. He is an experienced banker with a unique ability to reduce complex legal concepts to plain English. He has explained the "why" and "how" of regulations to thousands of financial institution personnel and examiners. Ken's banking career began in 1972 and includes serving as a teller, commercial operations manager and as trust department legal counsel in a state and a national bank. For ten years he headed the education division of a regional consulting firm for financial institutions. He has served on the faculty of the LSU Graduate School of Banking, the OTS' Level I Compliance School and the FDIC's Advanced Consumer Protection school for examiners. Ken has also been an instructor at compliance schools sponsored by the Illinois, Georgia, Indiana and Nebraska bankers associations.
03/25/2018
Do estates fall under the beneficial ownership rule? This estate has a Federal ID number. This estate is being probated in our local county court.
03/18/2018
Does occasionally accepting a customer’s paycheck as a form of payment and providing them cash for the difference constitute a business as providing check cashing service? My current bank will not accept a third party check. They say that is an indicates we are running a check cashing service and have to be licensed.
03/18/2018
Can we place a case-by-case hold and a large check exception hold on one check in one transaction if we feel it is necessary?
03/18/2018
Do we have to do cash advances for non-customers and can we charge a fee?
03/18/2018
For the BSA Travel Rule, we need regulatory guidance on what is considered a complete Wire Originator's address. Is it the street address, city and state, or does the address need to include a ZIP code? I can't find any definition of what a complete address is in the regulation.
03/18/2018
My inquiry has to do with CIP requirements regarding opening an account under a FLUTMA (we are in Florida). The account holder which is the grandmother opened an account under a FLUTMA for the grandchild. The parents do not wish to release a copy of their child's birth certificate due to possible fears of compromise. Is it mandatory to require CIP information on the minor once the Chex Systems clearance has been obtained; is a birth certificate actually required?
03/18/2018
If an account title does not specify AND or OR, which is to be assumed? I was always taught that OR should be assumed and that either owner could sign.
03/11/2018
We have several companies who print "Refund Anticipation" checks that have the words "Cashiers Check" at the top. Is there some way that we can put a hold on the check without being criticized by our regulators for placing an improper hold?
03/11/2018
Does a depositing bank have to CIP the lender on a DACA account when opening the account.
03/11/2018
Do customers have to have a sign in & OUT time on accessing their safe deposit box in Kentucky?