Most Popular Compliance Content
Gifts for New and Current Customers Only
11/12/2023
May we run an ad offering a $3.00 gift to people who open a new account and current account holders, without offering the gift to the general public?
BSA, IRS tax forms, Know Your Customer
11/12/2023
We have a customer that is a US citizen and resides in the US. He is employed by a company in Australia and the company is doing business in Arkansas, It is a lithium battery business. The people associated with it are Australian citizens, with no U.S. tax IDs. What do we need to be in compliance with BSA if we do open accounts for them?
Limits on Reg CC’s indemnity for losses from mobile deposits
11/05/2023
My bank wants to make an indemnity claim against a bank that accepted a mobile deposit of a $1,200 check that we accepted in paper form three days later. We learned from the paying bank that the mobile deposited check was indorsed with only the payee’s signature (which is all we got on the paper check when it was deposited with us. We charged the check back to our customer’s account, creating a $500 overdraft, and we have learned our customer has left the country. Can we recover the full amount of the check?
Tracking loan policy exceptions
11/05/2023
How do financial institutions track loan policy exceptions?
Identifying the bank that accepted a mobile deposited check
10/29/2023
We just received a $750 check that was returned to us unpaid as a duplicate presentment. There is no information on the check to indicate where it had been accepted for deposit before we took it. How can I get that information, which I will need if we have to make an indemnity claim against that other bank.