Most Popular Operations Content
CIP for Sole Proprietor- OFAC or Full Search?
08/18/2019
We use a vendor's product for CIP purposes at the bank. When running a sole proprietor account, is there a reason we should be doing the full search or is OFAC alone sufficient? The same would go for unregistered organizations.
Special Needs Trust- Debit Card for Trustee?
08/18/2019
May a Trustee of an irrevocable special needs trust have a debit card?
Do you have a permissible purpose to pull that credit report?
08/18/2019
We were cited in our last exam for not having a permissible purpose to pull a credit report; however, I can’t find information in the regulation regarding permissible purpose. Where can I find this information?
Who can request a stop payment?
08/18/2019
The office manager for a business asked us to stop payment on a check signed by the business’s treasurer. Can we accept this stop order?
Time Stamp Access Ticket for Safe Deposit Box?
08/18/2019
When a customer accesses their safe deposit box, we time stamp the time of entry on the access ticket. Once the customer is done we time stamp the back of the access ticket. Is it required to time stamp the access ticket once access to the box is completed?
