Banking compliance touches several aspects of banking – ALL of them in fact! Whether you work on the deposit side or the loan side of the bank, you have many rules to follow. Do you ever wonder why?
The short answer is that banks are special.
In October 2019, FinCEN made a clumsy announcement of changed filing instructions for CTRs, only to postpone the effective date three months later, in January. Another change issued in October was corrected in November 2019.
SaturdayJuly 01, 2023
Sweepstakes, Contests and Lotteries, Cans and Can Nots
Your problem -- a branch wants to raffle off homemade pies to raise money for a charity near and dear to the heart of those bankers. But is this a raffle, a contest or a lottery?
State laws on accounts for minors vary widely from state to state, but all states have some version of the Uniform Transfers to Minors Act to provide a framework for property (including money) to be held for a minor’s benefit.
Mistakes happen. Even strong compliance programs can have a slip-up, and you may find your bank has wrongfully disclosed the Annual Percentage Rate (on a loan) or the Annual Percentage Yield (for a deposit product).
Recorded on May 17, 2023
Permanent course title goes here (no "Live -" or date)
When your customer passes away, family members left behind often know they need to do something about deposit accounts and other banking relationships of the deceased, but don’t know what they can and cannot do with them or with checks payable to the
Banking as we’ve known it is rapidly changing. Apps, pod banking, cash recyclers, interactive teller machines, and other new technologies are affecting how we do business and offering new challenges to security.
Recorded on May 09, 2023
Overdraft Programs and Their Risk to Your Financial Institut
Overdraft services will continue to be a target for regulatory scrutiny in 2023 and financial institutions who’ve been cited can attest to the damage unchecked fee income practices can have on an organization.
During the last few years we have had the Secure Act 1.0 and Secure Act 2.0 and new regulations on RMDs and Inherited IRAs. Plus, we have a myriad of new exceptions to the 10% penalty.
Oil and water. Cats and Dogs. Fire and Ice. Such are the comparisons often used to describe the relationship between compliance and marketing. Are they really two opposing forces always in conflict and rarely compatible?
Regulation CC includes rules on check collection and the relationships between depository institutions that provide for collection, presentation, and return of checks.