Sweeps, contests and lotteries are really part of advertising, right? Yes – these are typically used to promote various bank products and services but they are a special subset of the broader “advertising” requirements.
Who banks on smart phones? Your bank’s customers. Who uses P2P payments with vendor apps like Zelle and CashApp? Your bank’s customers. Who is paying more and more and more claims from these transactions? Your bank.
ThursdayAugust 04, 2022
Got Flood Questions? The NEW 2022 Flood Q&As Have Answers!
Third Time’s the Charm! On May 11, 2022, after issuing prior proposals in July 2020 and March 2021, the regulatory agencies released their final updated Flood Q&As. It is invaluable Guidance, and you will want to know what it says!
wants their money “back” from the bank? The bank didn’t take their money and can’t give it “back.” The bank executed the transfer as the customer requested. Yet the bank is expected to replace that money under many circumstances.
On January 28, 2022, the FDIC published a final rule to simplify, effective April 1, 2024, its deposit insurance regulations by establishing a “trust accounts” category that governs coverage of deposits of both revocable trusts and irrevocable trusts
Does your bank have a new compliance officer? Does it have or need an enhanced compliance program? If you are starting or restarting a compliance program it takes a lot of elbow grease and you should begin with the fundamentals.
FinCEN and the USDA provided additional guidance to provide banking services to hemp related businesses; however, there have been no updates relating to marijuana, CBD oil and other cannabis derived products or for businesses that indirectly provide
Electronic delivery can be your virtual friend before, during and after a pandemic. It helps the bank protect relationships, save time and money and satisfy customers who want information delivered quickly.
Everything old, is new again. In January 2020, the CFPB issued a policy statement on how it was interpreting and enforcing UDAAP. In March 2021 the new acting director of the CFPB announced a reversal of that position.