07/11/2011
I am a teller. I was recently told that I should question why a customer's paycheck is much larger than normal before I cash it. Is this legal?
04/18/2011
Do we have to have job specific training for BSA?
03/07/2011
Is there a resource for advertising compliance when it comes to Facebook?
12/06/2010
I would like to know if any good activities, stories or exercises are available as free resources on the net for training investment bankers in communication.
10/25/2010
Our bank's availability policy is to make all checks available the day after the deposit. We use a case by case hold to extend the hold to two days. Can you tell me if the decision to place a case by case hold can be placed by an officer after the customer leaves the bank? Our auditor believes that we must get specific information on the check if we do not provide the hold notice at the time of the deposit. She insists that the person who accepts the deposit place the hold. We mail the notice out the same day as the deposit is made, and I understand that we cannot charge OD fees if we do not place the hold at the time of the deposit.
09/06/2010
We were offering a cash bonus to new checking accounts. We imposed no minimum balance or time restriction for them. We had a customer complain because a new account rep was refusing to open an account if the consumer said he intended on closing it right away. What problems could we be facing and what should be done?
08/16/2010
Can a sole proprietor simply cash checks made out to the business or does he first need to be deposit them into the account, at which time the cash could be withdrawn?
08/02/2010
We receive letters quite often from attorneys representing deceased customers or their estates. The requests are usually for a listing of “all funds on deposit with the bank owned by the decedent, either individually or jointly with others, including types of account, account numbers and balances as of the date of death.” If a Death Certificate and Letters Testamentary or Affidavit of Heirship are furnished, we provide this information. However, we recently had a case where there was a joint account on record with the wife and also a money market account with only the son as the other owner. Both accounts were joint with right of survivorship, no POD. Since the account ownership transferred to the son on the money market account, should we have included the particulars on that account in the response to the attorney’s letter? Do you have any archived webinars or papers addressing similar situations for us on which to do training?
07/19/2010
Our bank is planning to advertise a tiered-rate savings account. We want to make sure we disclose the APY correctly in the ad, but our rate structure is a little different from anything I've seen before, so I need a little help. We'll pay an interest rate of 0.50% on the portion of an account's balance from $0 through $5,000; plus 2.00% on the portion of the balance from $5,000.01 through $50,000; plus 0.10% on balances above $50,000 (all rates are variable, and these rates are what we would currently use). I seem to remember something from an old compliance training class about APY ranges. Is that the direction I should be headed?
04/12/2010
The bank held a drawing. Not everyone could enter it, so that means it was a lottery. How much trouble are we in and what do we do now?