Most Popular Technology Content
Proving Demonstrable Consent for eStatements
09/20/2010
We are in the process of starting e-statements for our customers. They will have to sign into our secure internet banking site to view their statements. However, the statements will be coming from another imaging company that does our imaging processing. These two companies are forming a single sign in for the images. I keep hearing about "demonstrable consent"; would we still have to prove this with our customers signing into a site that they have been or does this rule apply because it is the customers' actual statements being viewed?
No Opt-in but Wants Debit Card
09/20/2010
We decided to not charge for debit card and ATM overdrafts, because we have had a few customers who have been abusing that, so we stopped their debit card. Now they are asking if they can get the card back and pay the fee. Can we allow them to opt in on a case by case basis?
Third Party RDC Services
09/13/2010
I'm the compliance officer at a small community bank. We do not offer remote deposit capture, but from what I understand, some of our bank's commercial deposit customers have gone out on their own initiative and obtained RDC services from various third parties. Our customers are then using this platform to make deposits to their accounts at our bank. This would seem to involve risks to our bank, but I'm getting a lot of push-back from the sales side, that because our bank had nothing to do with the customer's decision to enroll in or obtain these RDC services, the bank has absolutely no risk. I'm not as convinced about that. Any help and or guidance appreciated.
Reg E Opt-in Confusion
09/13/2010
If a customer at a bank has the overdraft service, and has chosen to opt-out, we cannot charge, but if he chooses to opt-in, then we can. Is that correct? What if the customer doesn't have the overdraft service with us on his checking account? Can we charge with no overdraft service if he opts out? Can we charge with no overdraft service if he opts in?
Opted-in, then Opted-out, then Overdrafted
09/13/2010
Under the opt-in requirements for Reg E, a customer opted-in a couple of weeks ago. Today is Monday, and there are currently pre-authorized transactions showing in memo post from purchases made over the weekend, but that have not yet posted to the customer's account. The customer called in today (Monday) and opted out. The pre-authorized transactions posted Tuesday or Wednesday after the customer opted out, but they were already pre-authorized Saturday or Sunday prior. These pre-authorized items now came in and overdrew the customer's account. Can we charge an overdraft fee, since we knew about them prior to the customer opting out? We have a screen print of them printed at the time the customer called in to opt out.