Can an IRA customer contribute if he or she is 75 and earning income?
When is the 2020 FFIEC BSA Exam manual effective?
Do we have to change our Savings Deposits?
On a joint account, Bob or Betty, if Bob makes a deposit and Betty makes a deposit, do we really have to do four part Is
My bank’s account disclosures indicate it has a general next-day availability policy, but also says that we can place exception holds. Does that mean we can also place case-by-case holds?
Is a US TIN enough for a NRA on an interest bearing account?
Can my customer waive and RMD for an IRA?
What’s the combination of large deposit and case-by-case holds we can use to delay availability as long as possible of as much of a mixed-check deposit that includes next-day checks and other checks as possible? We want to delay the customer’s use of as much of the deposit as possible for as long as possible, within the “safe harbor” holds limits. The deposit is made in person to a bank employee to an account held by a payee of all the checks.
Per Reg CC, a banking day is defined as any business day (up to the bank's cut-off hours) when your institution is open for substantially all of its banking activities. Reg CC measures availability of funds in business days.
Are we, the bank, allowed any time from open of business to 3:00 pm (our cut off time) to release a hold? Our disclosure goes over the terms Business Day and Banking Day. But under the delay we use Business Day. So should the funds be available the start of business day the hold is removed?
I'm implementing Remote Deposit Services in my bank. Our main and only customer will be a foreign bank. Basically, the foreign bank is my parent company. However, we are independent from them in terms of regulations applicability.
The foreign bank is not allowed to open US dollar accounts for their customers. Therefore, the foreign bank will purchase checks from their customers and each will be scanned through RDC. We will receive the images of the checks.
My question is: Does regulation CC apply to the foreign bank (which is my customer)?