Many CSRs cringe when their deposit account customers say “We’ve got a trust now and we want to put our accounts into it” or “I want to open an account in my trust’s name.” Add in successor trustee issues, amendments, revocations, and customers who
Recorded on June 20, 2017
Deposit Compliance Auditing and Monitoring Programs
Compliance monitoring versus auditing – they are the same thing, right? Lee Corso, an ESPN college football analyst, has a favorite catch phrase: “Not So Fast My Friend.” His words are perfect for this topic.
Safe deposit operations are unique in that your staff members aren’t supposed to know what, if anything, is being added to or removed from the customer’s assets held in your vaults.
BSA Compliance is only applicable for deposit accounts and primarily for individuals that conduct transactions above $10,000 or other suspicious transactions, isn’t it? Actually No! The definition of “account” in the BSA includes all loans.
Guidance from the FFIEC indicates that all banks need to address social networking. You need to care about social media if your bank or your employees have a presence.