Vendor Guru Q&A - Operations

Latest Operations - Privacy Topics

IRS info requests

10/27/2021

Do IRS Levies fall under the jurisdiction of the Right to Financial Privacy Act?

Subpoena restrictions

10/10/2021

If a customer has multiple entities but only one is listed on the subpoena, are we restricted to giving information only about the listed entity?

Telephone Survey for Bank Customer

06/02/2019

We have a vendor who will be conducting a telephone survey pertaining to our customers' experience and usage with our credit card product. The following is our process: 1) Customers listing is obtained from the banks payment processor. 2) Customers who "Opted Out" will be excluded. 3) Our vendor conducting the survey will ensure the customer has the opportunity at the beginning of the call to decline taking the survey as a courtesy. 4) Customers called are not randomly selected but based on our customer listing. Aside from our privacy policy and the opt-out list, are there any other compliance concerns that require attention?

Account Holder Adds Joint Owner then Passes Away

06/02/2019

If an account owner adds a joint account owner and then passes away, is the joint holder/now owner entitled to copies of statements predating their ownership?

Who writes policies and procedures?

03/24/2019

At what level should policy and procedures for handling third-party claims be approved?

Alerting law enforcement to elder financial exploitation

03/24/2019

How can a bank best aid local law enforcement?

Detecting elder financial exploitation

03/17/2019

What should banks do to detect elder financial exploitation?

Getting bank counsel involved in policy writing

03/17/2019

Why should we ask bank counsel to review our policies and procedures on handling third-party claims? Doesn’t that just add costs to the effort?

Responsibility for managing third-party claims

03/10/2019

Does our bank have to have a written policy or procedures for handling third-party claims to funds or information?

Major scams targeting elderly bank customers

03/10/2019

What are today’s most prevalent forms of scams?

Premium Content View All

Regulation P’s Annual Privacy Notice Amendments

by Mary MacNamara and Patti Joyner Blenden

CD Redemption Fees

12/04/2022

We recently had a CD held by a Revocable Trust where the Grantor/Co-Trustee died. The other trustee came in and asked to redeem the CD early due to death. We waived the early redemption penalty due to death, but asked ourselves, is this a regulatory requirement or a courtesy, particularly in this case because a Trust doesn't "die".

Latest Operations - Privacy Topics

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