Business Entity On Joint w/ Individual Person?
11/25/2018
Can a business entity be a co-owner on a joint account with an individual person?
Ken Golliher is a principal with Pegasus Educational Services, LLC., a training firm organized in 1996 with headquarters in Louisville, Kentucky. Pegasus specializes in technical and regulatory instruction for financial institution personnel. He is an experienced banker with a unique ability to reduce complex legal concepts to plain English. He has explained the "why" and "how" of regulations to thousands of financial institution personnel and examiners. Ken's banking career began in 1972 and includes serving as a teller, commercial operations manager and as trust department legal counsel in a state and a national bank. For ten years he headed the education division of a regional consulting firm for financial institutions. He has served on the faculty of the LSU Graduate School of Banking, the OTS' Level I Compliance School and the FDIC's Advanced Consumer Protection school for examiners. Ken has also been an instructor at compliance schools sponsored by the Illinois, Georgia, Indiana and Nebraska bankers associations.
11/25/2018
Can a business entity be a co-owner on a joint account with an individual person?
11/18/2018
As it pertains to the FinCEN guidance in 2016 relating to Cyber-events and Cyber-enabled crime, does the requirement of identifying a suspect still apply, or should banks be filing SARs on cyber-enable crime(i.e., identity theft) if the $5k threshold is met even if a suspect is not identified?
11/18/2018
We have an IRA customer who has passed away. The beneficiaries want the checks made payable to them without the IRA being transferred into the beneficiaries' names. Can we do that?
11/18/2018
When opening an UTMA account can the funds be placed in a Certificate of deposit?
11/11/2018
What is the bank's responsibility in regards to customers with diminished capacity? I have an elderly customer with dementia who makes frequent trips to the bank (often multiple times a day) and is in an advanced state of confusion. He often requests to take all of the money from his sizable checking account. While he has every right to his money, we are concerned that he is incapable of managing his finances on his own and is an easy target for criminals. He is walking around with a significant amount of cash in his wallet. While it does not appear that he has been abused financially, he does not have family who is willing to help him out. It is obvious that he no longer needs to be in control of his finances. As his bank, what are our options as far as keeping both the customer and his assets safe?
11/11/2018
Questions have been brought up...at our Bank, a Non Resident alien can open a deposit account, but can they also sign on a Safe Deposit Lease? What happens when the party is deceased? Is this a Bank preference to rent or not? ken
11/11/2018
Is there a statute of limitations on bank fraud and theft by bank officials?
11/11/2018
We had a Gun Trust presented to us to open a Trust account for. We declined the account. Can an account be opened for a potential client for a National Gun Trust under his SSN?
11/04/2018
How many checks can be drawn against a non transactional account in a statement period?
11/04/2018
We received an IRS levy for an individual. We have no personal account, but there is an account where the individual is the sole owner on a business account and incorporated. Does the levy effect this account? And do the new Beneficial Ownership regulations impact this at all? This individual is really using this as a personal account and even deposits Social Security checks into it.