Banks with active and imaginative marketing departments can produce some great ideas, but some of the ideas can break some rules. Bank staff members who want to assist local charities can also step outside of legal and regulatory boundaries.
Safe deposit operations are unique in that your staff members aren’t supposed to know what, if anything, is being added to or removed from the customer’s assets held in your vaults.
Guidance from the FFIEC indicates that all banks need to address social networking. You need to care about social media if your bank or your employees have a presence.
When the bank has a claim for an unauthorized EFT, it costs money. The choices you make will determine how much that will be. If you pay every claim, you may be giving away profits.
This webinar, the first in a three-part series, teaches you about ACH fundamentals, including transaction flows, network participants, managing risk of third parties, standard entry class codes, and common ACH violations.
In response to the need for faster electronic payments and settlement, NACHA developed Same-Day ACH. Same-Day ACH is rolling out over the course of three years. Phase I is already in effect with the higher risk Phase II just around the corner.