by Gayla R. Sherry, SPHR, BOL Guru
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We are mailing a two-page letter to our customers. The first page is to inform them of upcoming changes to how customers will log on to our Internet banking. The second page is tips on preventing identity theft. Is it required that we display the FDIC logo on this letter? The FDIC logo is however, on the envelope that contains the letter.
We have an item from a Canadian Bank that is payable in U.S. funds through an American bank. There is no indication on this item that it is a cashier's check. Stamped verbiage on the back of the item says "DRAFT VOID IF NOT PROTECTOGRAPHED ON FRONT." When we contacted the Canadian bank, we were told the item is a cashier's check. Is there any law or regulation that stipulates items must be identified as a cashier's check so we don't run the risk of a Reg. CC violation?
I recently went to a seminar and during it they mentioned that we should issue a TISA and Reg CC disclosure to any potential customer inquiring about our accounts regardless if they open an account or not. Is it a violation if that is not done and they are only issued to customers opening accounts?
Must a Home Equity Early Disclosure be given to a borrower three days prior to closing or within three days of application?
Is there a way to find what the Visa Procedures are that must be followed when doing a debit card dispute?
When we have a non-profit organization our bank titles it like "Jane Doe D/B/A as Girl Scouts Troop 55" and uses Jane's Social Security number. Where I worked at before titled accounts in the form "Girl Scout Troop 55" and used their own tax number. Can accounts be styled two different ways?
We have a customer who has been in Afghanistan for the past 5 years due to their being in the military. The customer has come back to the United States and has discovered unauthorized withdrawals which took place 5 years ago - about a month after they were deployed. Are we in compliance if we deny the claim, or we obligated to pay due to fact our customer was not receiving statements to Afghanistan. The account was charged off in 2007 and customer discovered this on her credit report.
We have a few customers that are non-US persons residing outside the US. They were added to accounts while here visiting relatives, etc. If the VISA and/or Passport expire, should we require updated, non-expired information? What if they do not plan on re-entering the US for a while? It is how we identified our customer originally, but if they are not planning to travel, are they expected to maintain current documents?
Our financial institution issues the VISA check card to our customers. We have had fraud issues that VISA denies us charge back rights on. They are protecting the merchants and the ones committing fraud but what about the cardholders and card issuers? Shouldn't VISA reimburse us for this loss? How can a FI get restitution for the money they lose when protecting their customers against fraud?