Would you have a sample identity theft (red flag) risk assessment you could share with me?
If a customer endorses a check "without recourse" can the bank still take recourse against the deposit account if the check is returned?
Our consumer lenders and marketing departments have figured out a way to increase car loan volume. For newer cars and requests greater than $5,000 they'll offer gas coupons. For customers who don't qualify for the government's Clunkers Program, this may be an incentive to choose us for borrowing. What issues do we need to watch?
Among credit risk, market risk and operational risk, developing a good operational risk management program seems to be the most challenging. Can't our existing compliance processes (e.g., AML, Red Flags, GLBA, etc.) contribute to operational risk management?
What individual risk assessments is a bank expected to perform? How do the individual risk assessments fit together with an "enterprise risk assessment"?
Is it illegal for customers to put cash in their safe deposit box? Is there a specific law or is it just bank policy?
We open renters' security deposit trust accounts. Do we need to verify the tenant's ID and check his/her name against the OFAC list? I know that for the landlord we have to do this. Is it sufficient to just keep the W-9 on the tenant?