Can we pay tellers for loan referrals on our own in-house loans?
We are considering implementing a customer referral program whereby we would give an existing customer $20 in gift certificates if they refer a person to our bank and they open an account. Is this a problem, and is there a limit to what we can give them?
What are some suggested policies that should be included in an Employee Handbook?
We currently have a referral program whereby if an existing customer refers a friend to open a new account, the existing customer receives $5 gift certificate for groceries for their referral. We want to expand the program to include a monthly drawing where the existing customer who referred their friend has a chance to win a $250 grocery gift certificate in addition to the $5 gift certificate. Is it legal? What regulations apply?
If we suspect a customer kiting. How long can we put a hold on checks being deposited. Does it matter if they are local checks or non-local checks?
Can a bank post checks in any order? OCC says yes, what do other regulators say?