What is a "school"?
04/21/2024
When opening a safety deposit box, would you put a school into an association/organization, or a governmental entity account type? We are seeing that both have been used in the past.
You can reach Randy via email at: careyrandy@comcast.net
04/21/2024
When opening a safety deposit box, would you put a school into an association/organization, or a governmental entity account type? We are seeing that both have been used in the past.
04/21/2024
We have a number of deposit accounts that were opened where the accountholder desired to have two signatures required for withdrawals. As this has become burdensome for bank staff to verify the incoming clearing checks, we would like to eliminate this requirement. For the existing account holders, what, if any, notification is required? The account agreements on file currently state "Except as otherwise provided by law or other documents, each of the undersigned is authorized to make withdrawals from the account, provided the required number of signatures indicated above is satisfied." The number of signatures above on the signature card states 2.
04/21/2024
To get an auto loan our credit union requires the person to be a member. This requires a deposit/share draft account. Is this an allowable requirement to qualify for a loan?
04/14/2024
If using a software program, we become aware of a check drawn on our customers account is for sale on Telegram (a marketplace for help depositing a stolen checks) and it is over $25k would a SAR be required? We froze the item and to our knowledge the check was not purchased or negotiated.
04/14/2024
We have a client who deposited a reportable cash transaction into he and his wife's trust account. We know we have to file the CTR for both wife and husband (joint account) but do we have to include the trust as a beneficiary?
04/14/2024
Are refinancings of second homes HMDA reportable?
04/14/2024
If all of a lender's marketing is targeted outside the US, aside from marketing within its "claimed" assessment area, could the lender be subject to REMA redlining review? I've read guidance that implies marketing doesn't have to be a factor for a REMA redlining exam to be conducted... • "REMA...defines who and where you serve, and as such, is different from a defined Market Area..." • "Where the lender actually marketed and provided credit, and where it could reasonably be expected to have marketed and provided credit based on its distribution of loans and applications " • Redlining analysis will look at lending and level of services in majority-minority census tracts compared to peers, among other items.
04/07/2024
According to Reg E, if I need to reverse provisional credit from a customer and they do not have the funds in the account in the amount of the reversal, can I proceed even though it will leave the account in the negative? The customer has been notified verbally of the reversal and I will send the reversal letter via mail, but they have made no attempt to deposit the money to cover this. Can I proceed, regardless of if the funds are available and still be in compliance?
04/07/2024
If a bank has fraud on the banks official check account, who does the bank report that to? As we get notifications on other institutions fraud official checks we are unsure of how that information gets sent out.
04/07/2024
If a lender is cancelling the SBA guarantee on the existing SBA loan and converting that to a commercial loan, is it acceptable to pay off the existing SBA loan and simply create new commercial loan, or should we use a loan modification instead?