Latest Compliance - Checks Topics

Question: What is "reasonable cause" for determining that a check may not be paid? And, more important, how do we disclose this to the customer?

by Dana Turner

Question: We've been keeping a log on all our customers, exempt or not, for cash transactions over $3,000.

Question: Our examiner identified a check that we treated as a teller's check, but the examiner believes we should have treated it as a cashier's check.

It's here. The Federal Reserve Board has signed off on proposed Know Your Customer ("KYC") rules.

Question: If we rarely place holds but want to be able to place case-by-case holds from time to time, what would be the easiest way to handle disclosures?

Question: If a customer comes in to the bank with $10,500 in cash and purchases official checks, one for $5,000 and one for $5,500, what BSA reports - CTR and monetary instrument log - shou

Question: When placing a hold on a large check deposit, do we have to make the first $100 available? If so, on what amount is the hold actually placed?

Question: Our check security company has given us a sample adverse action form to use when refusing to open a deposit account because of information the company gives us regarding the consum

Question: We are receiving an increasing number of payment vouchers generated by telemarketing firms.