Most Popular Compliance Content
Reimbursing Paid Fraudulent Checks
06/25/2023
Is a bank obliged to reimburse a consumer client for a fraudulent check paid out of their checking account? (We are in New Jersey.). Also, the client reported the fraudulent checks 10 months after statement cut which is deemed late according to our account agreement. I have not been able to locate a rule/code or law that makes us liable to a consumer for this.
Facebook and Drawings
06/18/2023
Can we advertise a drawing on social media only?
8 beneficial owners in 2024? Really?
06/18/2023
Can there be 8 beneficial owners in 2024?
High Risk? Anybody or Nobody?
06/18/2023
Who is high risk for BSA?
Is a wheel-spin game allowed?
06/11/2023
We have a “spin the wheel” promotion. To spin, a customer must donate $1 that the bank donates to a charity. All the prize amounts on the wheel are more than $1 therefore all customers will get more than they donate. The amount won is then sent to the customer via our e-wallet app. We set a certain number of spins and it is done on a first-come-first-served basis.