Most Popular Compliance Content
Privacy Policy Update Requirement
03/05/2023
Google is requiring us to add a Mobile Privacy Disclosure to our Privacy Policy. The changes go into effect March 1, 2023. How long before the change goes into effect does the customer have to receive the updated notice? I would think 30 days, but I can't find that anywhere.
Specificity of CD Beneficiary
03/05/2023
For a Certificate of Deposit account, can the beneficiary on the account be titled as "Assigns'" in lieu of a specific named beneficiary?
Stop Payment on Venmo Transfer
02/26/2023
A customer made a payment using Venmo over the weekend and it is pending against their account first thing Monday. The customer has discovered the transaction is a scam. Our customer has contacted Venmo who said there was nothing they could do. Can the bank put a stop payment on this payment?
Revoking Provisional Credit under Reg E
02/26/2023
Is there an exception to Reg E that allows us to reverse provisional credit in the event of a merchant credit to the customer? If so, is there a time limit?
Using Corporate Resolutions
02/26/2023
How should banks be using corporate resolutions with business deposit accounts? - Should we be documenting who has what authority to do what as stated in the resolution? - How do banks use them after the relationship has been established? Not all businesses have a corporate resolution created by an attorney, so what should the bank's true role be with these?