Most Popular Compliance Content
MSB, But Not at our Bank
05/05/2024
If our institution banks an entity that is registered as an MSB but, the entity does not hold their MSB account at our institution, are we still required to complete a full MSB high risk review or even have them marked as an MSB?
Reg E on Official Checks
04/28/2024
If a customer did not receive their check in a timely manner in the mail after cashing in a Certificate of Deposit, can they file a Reg. E claim? The account was originally opened online.
UTMA Custodian Deceased, How to Handle
04/28/2024
My question is on a custodian account/UTMA when the minor reaches the age of majority. In this case the custodian did not close account prior to their death. Can the bank distribute funds to minor who is now over 21? What if the terms and conditions of the account say only the custodian can disburse funds: does that mean the “minor” has to get a new custodian assigned to allow for funds to be given to minor?
Do Cashier's Checks Expire?
04/28/2024
What is the expiration date on a Cashier's Check, or how do banks handle stale dated ones outstanding?
Compliance actions when violations are found
04/21/2024
What action steps are needed when we find a severe or frequent violation?