We are now scanning all of our deposit and loan documents for our customers. Is there any reason to "block" our lenders from viewing all the documents - such as a drivers license? Currently our lenders are blocked from viewing all deposit documents as well as CIF documents - signature cards, resolutions, trusts, drivers license, etc. Our lenders are required to capture the information from the drivers license when completing the loan application. I can remember back when we had loan files that we weren't allowed to keep a copy of the DL in the file. But now that they are scanned, do they need to be "blocked" from certain employees for viewing?
We need to communicate a change to our Business Mobile Banking customers. Is it permissible to send these customers (approx. 450 relationships) a text message to their cell phones with a link to the product change description without getting their express consent?
Do all banks need a social media department with written policy and procedures?
What do the initials EDP stand for?
When filing a written statement of unauthorized debit, can a financial institution charge you a return fee to process an ach that came from an account?
We are discussing accounts you can merge on online banking (so that the agent can see the fiduciary account along with his/her personal accounts with a single log-in) for example:
1.) Rep Payee
2.) Escrow Agents
3.) Power of Attorney-Appointed Agents
4.) UTMA Accounts
The custodian has been challenged as to whether or not you can or can't combine with a parent’s accounts online banking.
Is there any legislation or case law or statutory basis for which we must decline these requests or is it discretionary?
If a customer has electronic statements, is the bank obligated to provide, at no charge, a printed statement to the customer upon their request?
First of a Two Part Series
by Jimmy Sawyers, BOL Guru
When the winds of change blow, some people build walls, and others build windmills. --- Chinese Proverb
Can a business make monthly automatic debit compulsory for payment of their product or service without offering another method of payment to the consumer?
How do you get a COT code in online transfer?