Most Popular Operations Content
Lottery?
03/01/2010
Marketing wants to sponsor a half-court contest at a game at a local high school. The booster club would sell tickets for a chance to take the shot. The bank would provide the prize money. Can we advertise or show our sponsorship with a banner at the game? I said no, that it would be sponsoring a lottery.
Loan Payment by Check Payable to Business
02/22/2010
Can a business use a check payable to the business to make a loan payment, if the loan is in the business' name, or must it flow through the business checking first?
Oil & Gas Lease Account
02/22/2010
A potential customer would like to open an interest bearing oil and gas lease account that has about thirty investors who are the beneficiaries. We will be furnished a copy of the percentages of ownership every thirty days. How do we determine the FDIC insurance and how does the signature card need to be styled?
Check Imaging for MSBs
02/22/2010
We have a request to open an account for a processing business that will image checks for a MSB. Do we need to worry about getting documentation from the MSBs involved? What is our responsibility as far as BSA is concerned?
Expired Stop Pay
02/22/2010
A customer recognizes a check posting to their account that is stale dated (over a year old). The customer replaced the check at that time, but did not issue a stop order which would have expired now anyway without a renewal. Can we return the check if the item was paid fours day ago?