03/03/2024
We continue to have issues collecting customers current physical addresses when opening new accounts. Our frontline thinks they find loopholes in our policy, deviating from the intent of the policy, and they create larger problems.
Is it permissible to have a policy or procedure in place for changing the address on a new account for a new customer within 30 days of the date opened? Say if a customer opens an account on the 10th and then comes in on 21st to change their address, do other banks have a policy to collect a proof of address at this time since it is a new account?
05/16/2021
Is there a general rule, or specifically for the state of illinois, how long do we need to hold statements and account notices that were returned to do an invalid address for the customer?
05/16/2021
Is there a general rule, or specifically for the state of illinois, how long do we need to hold statements and account notices that were returned to do an invalid address for the customer?
05/27/2018
If we update a customer's information (address) based on information they provided to the US Postal Service via the National Change of Address (NCOA) link, are we required to notify them of the change?
02/09/2015
Does a POA have the authority to change the address on the customers account?
03/24/2014
What documentation should be required for a customer address change?
02/09/2009
I was at a seminar presented by Jack Holzknecht regarding implementing the new Identity Theft Red Flag and Address Reconcilement Rules. Do we need to monitor each and every address change or be able to sample a number of them and monitor that way?
03/10/2008
Are there specific regulations on changing a customer's information such as their address and if so, where can I find them?
07/03/2006
We have a customer that changes his address at least once a month, and he did it twice in one month this past time. What do you think he might be up to? Frequent address change requests are suspicious, but what do you think he could be trying to accomplish or hide?
09/20/2004
For customer-initiated requests (auto debit setup, removal, name/address changes, due day changes, etc.), is there anything in the regs pertaining to follow-up letters that should be sent to the customer? Some banks send letters reiterating the request/changes made, whereas others don't.