Bio:
John Burnett joined Glia Group, Inc., and BankersOnline in 2004, and currently serves as Executive Editor. He is a 1990 honors graduate of the Stonier Graduate School of Banking and is an alumnus of the ABA National Compliance School, where he served on the faculty for several years.
John began his banking career in high school when he started as a teller at a $15 million bank that didn't have account numbers for its checking accounts (he says they actually filed by signature!) He moved to Cape Cod Bank and Trust Company in 1971 and assumed the position of Compliance Officer in 1976. He also served as corporate secretary and secretary of CCBT's Board of Directors, and as clerk of the bank's holding company.
He was a member of the Massachusetts Bankers Association Legal and Regulatory Compliance Committee, and of the American Bankers Association Compliance Executive Committee and NCS/NGCS Advisory Board. He is a regular presenter of BOL Learning Connect webinars and a participant in BOL Conferences events.
Questions Answered
04/14/2024
One of our consumer customers overdrew her account and we returned the check unpaid. The payee converted it to a re-presented check (RCK) ACH entry that we paid. Our customer claims the ACH entry wasn’t authorized. Should we handle her claim as a Regulation E error claim?
04/07/2024
We paid an ARC ACH entry that was created from our cashier’s check. We then discovered that the original cashier’s check had already been paid. Can we return the ARC entry?
03/31/2024
A supermarket converted a payroll check drawn on our business customer’s account into an ACH BOC (back-office conversion) entry. Our customer didn’t authorize the conversion, and she’s upset. Can we return this entry?
03/24/2024
When can we require a customer to provide a WSUD?
03/17/2024
How long do we have to return an unauthorized ACH debit entry?
03/17/2024
At what level should policy and procedures for handling garnishments and subpoenas be approved?
03/10/2024
Does there always have to be a written authorization for an ACH transaction affecting a consumer’s account?
03/10/2024
Why should we ask bank counsel to review our policies and procedures on handling garnishments and summonses? Doesn’t that just add costs to the effort?
03/03/2024
Who should be responsible for managing the bank’s handling of garnishment orders and subpoenas?
02/25/2024
Does our bank have to have a written policy or procedures for handling garnishments?
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