Please advise on the following scenario:
Customer deposits a $4000 cashier's check with a $5000 personal check (total deposit $9000). This is not a new account and we have no reason according to
Reg CC so be able to hold the cahier's check. The teller wishes to place a case by case hold on the remaining $5000 of the deposit. Per Reg CC would
she only be able to place a hold for $4800, or could she hold the whole $5000 for two days because she has already released the $4000 due to the cashier's
Have there been any updates or amendments to Reg CC in 2012?
Can holds be placed on new HSA accounts? A customer opened a new HSA account with $25, and the branch placed a ninety day hold on the amount. The hold has to do with a penalty for closing the account. Is this hold applicable?
Question: Can we use the same form when we put a hold on a savings account deposit that we use on our checking accounts?
Our bank does case-by-case holds. Reg CC clearly states that cash must be available on the second business day following the day of the deposit if not deposited in person to a bank employee. Why isn't cash treated the same as a US Treasury check when not deposited in person (still next day)? I can't think of a reason ever to place a hold on cash even if it isn't deposited in person. If for some reason we did place second-day availability on cash deposited to an ATM, would we need to make the first $100 available on the next day?
Ever wonder how it is we got all those neat acronyms for banking laws, regulations and forms? You know, the ones like BPA, CRA, BSA, CTR, and SAR.
Question: We have a draft, drawn through a New York bank on a customer's account in a bank in Puerto Rico.
The subject was the increase in the amount of money laundering going on, in spite of all the reporting from the financial industry during the past few years.
Question: The list of "next-day availability" items in the Vol. II, No. 6 article on EFAA says checks of less than $100 are given this treatment.
Question: I know that there have been numerous articles about Reg CC in BANKERS' HOTLINE over the past year and that there have been many changes going into effect as well.