Most Popular Operations Content
Deposit Coverage of Insurance Co Escrow Account
11/24/2008
If an insurance company has established an escrow account that houses premium payments that are due to various insurance companies, are the individual companies within the escrow account each insured to $100,000?
IRA Transfer - Early Withdrawal Penalty
11/24/2008
Can a financial institution assess an early withdrawal penalty against an IRA investment that is being withdrawn before maturity as a transfer to another institution?
Disaster Drill
11/21/2008
How frequently should we have a disaster drill?
Enterprise-wide Based Risk Management Testing
11/19/2008
What does it mean by enterprise-wide based risk management testing? Does this include branch offices?
Who is Responsible for Payment of the Check?
11/17/2008
I have a business client who wrote an employee a payroll check. The employee went to cash it at a check cashing location and apparently his account or credit with them was negative because they would not cash or give the check back, but they applied it to his account. He then told the employer the check was lost and the employer placed a stop payment on it as lost and provided him with another check. Now this company is calling my business client to collect the funds, as opposed to going after the employee who endorsed the check. Who is responsible for the payment? I would assume the employee should be the one since his account received credit for it. This company calls my business client everyday for collection.