Latest Operations - Audit Topics

SARs and Hemp—What’s the story?

01/19/2020

Do we file Suspicious Activity Reports on hemp and hemp CBD Oil?

ACH: More than just Nacha’s Rules

01/19/2020

Aren’t all rules for ACH transactions covered in the Nacha Operating Rules and Guidelines?

Is email receipt of the LE sufficient

01/19/2020

We mailed the borrower’s Loan Estimate and they emailed us that it was received, and they want to proceed with the loan. Can we act on this emailed notice?

Hemp is in! What are the banking risks?

01/12/2020

Can we bank hemp growers? Is it marijuana?

Bye Bye stretch IRA?

01/12/2020

Do all nonspouse beneficiaries have to take out distributions in 10 years?

IRA Plan Amendment

01/12/2020

Will our IRA plans require an amendment?

IRA Changes Effective for tax years following 2019

01/05/2020

What about the 2019 tax season? Can a 72-year old make a contribution to a Traditional IRA.

What is your opinion of offering a checking account that offers add-on third party benefits as a feature of the account? Customers are only able to obtain the add-on services if they buy the account and pay the service charge disclosed for this product.

Reputation risk and UDAAP

11/03/2019

Does UDAAP apply to just consumers, or all customers?

Aggregated transactions versus Multiple transactions on a CTR

11/03/2019

When do we check aggregated or multiple transactions?

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We Can't See the Forest

A recent investigative report from a newspaper in Sarasota, Florida highlighted the many reasons why banks fail, and they cite unethical lending practices, employee greed and dishonesty as a few of the culprits.