If you ask the First National Bank of Boston-they'll tell you Proof and Transit are VERY important-$90,000 worth at a time, as a matter of fact!
In the last issue of BANKERS' HOTLINE we talked about using more than just a signature card to open a new account.
One of the things that makes life interesting for the compliance officer is the total unpredictability of the regulators.
I just read an article in the AMERICAN BANKER that said that Regulation CC had "little to no impact", according to a poll done by Trans Data Corporation.
"But I KNOW I made the deposit in time!"
"The new computer conversion will solve all our computer problems!"
"Hi! I'm from the government, and I'm here to help you!"