Most Popular Technology Content
Opt-in for Joint Account Holders
05/31/2010
Relative to the new Reg E, if one account holder of a joint account opts-in, the bank may honor the request and pay all covered debit card overdrafts for the account and impose a fee. However, for joint accounts where each holder has a different debit card number, is it necessary to obtain affirmative consent from each of the card holders?
IT Controls & Financial Audits
05/31/2010
What are the minimum IT Controls to assess in a Financial Audit?
Requiring Customers to Opt-in to OD Fees
05/24/2010
We have received conflicting advice on whether we can require customers to opt-in to the Reg E overdraft fees in order to receive a debit card. Can we or can't we?
Overdraft Fee at ATM
05/24/2010
With the new opt in requirements for Reg E, if a customer opts in, does that eliminate the need to inform the card holder that his ATM transaction will overdraw his account?
Online Transfers between Personal/Business Account
05/24/2010
Can you cite any regulatory prohibition, industry best-practices or any other guidance regarding the commingling of funds conducted via web-based transfers between linked personal and business(corp., llc.) accounts, owned or otherwise controlled by the same person? Information from the IRS on this subject is vague. My gut feeling is that this activity raises potential tax evasion issues and may be a reportable offense under SAR guidelines.