I have heard that business accounts do not fall under Reg E. How does this apply to internet banking and what about a business account that is a sole proprietorship?
Our customer closed their sole-owner account last week; he has another account with us, but it’s a joint account. Today we received a VA benefits payment to the old account. Should we put the funds into the other account?
What should banks do to detect elder financial exploitation?
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?
Does our bank have to have a written policy or procedures for handling third-party claims to funds or information?