Most Popular Compliance Content
MSB Registration
02/13/2022
Does a Money Service Business (MSB) who is registered through the state Nationwide Multistate Licensing System (NMLS) still have to register as a MSB separately with FINCEN?
So are we responsible ?
02/06/2022
We sent a check out in our cash letter, and the check number was encoded wrong. That is it, nothing else. When the makers bank received the check, they paid it. Then days later they realized that check had a stop on it. The stop was on ck# 1855. We sent the check to that bank with no check number at all. Our machines did not pick it up. They are wanting us to pay them back for the check because we sent it out without the check number, however they missed the stop too. The check suspected and they failed to notice the check number was not correct and it had a stop on it.
So are we responsible ?
02/06/2022
We sent a check out in our cash letter, and the check number was encoded wrong. That is it, nothing else. When the makers bank received the check, they paid it. Then days later they realized that check had a stop on it. The stop was on ck# 1855. We sent the check to that bank with no check number at all. Our machines did not pick it up. They are wanting us to pay them back for the check because we sent it out without the check number, however they missed the stop too. The check suspected and they failed to notice the check number was not correct and it had a stop on it.
Endorsement Return Items
02/06/2022
What is the return window for endorsement issues? Are they all the same for Missing, Irregular or Forged items?
EFTs and ODPs
02/06/2022
Has the number of monthly electronic funds transfer for overdraft protections changed recently?