Most Popular Compliance Content
Authorized signers and ChexSystems reports
03/09/2025
We have a legitimate business need/permissible purpose to pull ChexSystems reports on those looking to open a consumer account. We know we do not need to get a consumer's permission to do so if they are asking to open an account in their names. I was wondering if it works with business accounts (signers on business accounts as well). And will there be an issue if we report to ChexSystems?
When must we reimburse customer for UCC claim?
03/02/2025
When we (Bank B) send a UCC Breach Of Warranty Claim for missing endorsement to Bank A, how long does Bank B have to credit our customer for their missing endorsement claim? Assume the liability is on Bank A, due to missing endorsement and should reimburse Bank B in full. Does Bank B wait for full payment before reimbursement to customer or is there a UCC required timeframe for customer reimbursement?
ATM networks, LPOs and Assessment Areas
03/02/2025
Under the new CRA Assessment Area rules, if a bank is utilizing the Allpoint+ ATM network that allows for networked ATM+ machines to accept cash deposits, would this be considered a deposit gathering ATM location? And, if the bank wanted to open an LPO in a new state (not contiguous to its existing state or retail branch locations) where these ATM+ deposit gathering machines are located, could the Assessment Area include this new LPO market to help their in/out ratio?
Keep Calm and Carry On
02/23/2025
There’s a lot of change going on right now, in every aspect of our lives.
Zelle – A Fast and Easy Path to Compliance Concerns
02/23/2025
UPDATE: News reports indicate that the CFPB has dropped the lawsuit described in this article.