Are there any alternatives to UTMA accounts when a minor is involved?
Will my community bank be required to re-architect our existing systems to comply with data protection and privacy laws?
As it pertains to the Beneficial Ownership Rule, we have a municipality that wants to open an escrow account for a business. The business is an LLC, but the municipality is in charge of the funds. For BSA purposes, do we need to obtain all the normal documents for the LLC including all info on owners? How in depth do we need to dig for this? In this case the LLC is not an existing customer of the bank.
1. What changes are coming for payments processing?
Can a POS transaction be returned for insufficient funds and charged an overdraft fee if our bank does not offer overdraft protection? Would there be a benefit for a customer to "Opt In" if we continue to not offer overdraft protection?