Most Popular Compliance Content
Common violations may surprise you
04/07/2024
What are some of the more common violations examiners find today?
Broadcast a report on bad official checks
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.
Are Cash Advances Required
04/07/2024
Can a bank offering cash advance services through Mastercard choose to stop offering that service?
Revoking Provisional Credit That Isn't There
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?
Responding to Exam
03/31/2024
Our bank received an MRA (Matter Requiring Attention) to establish a testing/audit program due to a vacancy in the internal audit position for some time. We've engaged an external audit firm to perform the audit function starting this year. This firm was already engaged prior to our examination. I've never assisted with a response to an MRA and am wondering what format and information should be provided. Can you please share any key components or advice with me on this topic?