05/27/2013
Has the escrow calculator been updated and is this available?
05/27/2013
We received an IRS Levy last week, and our customer had $800 available at the time the levy was received. We placed a hold on the funds. Two days later we received notice that a $3,000 check he deposited was being returned for NSF. This meant true account balance available would have been ($2,200) at the time of levy. When we received the $3,000 check back, we debited his account, and he was negative. He has since deposited cash and has $100 available (including the $800 hold for levy). Checks are now presenting that we could pay if the $800 hold was not there. What am I obligated to pay the IRS now?
05/20/2013
A large national retailer is now issuing in-store debit cards, that post transactions to our bank customers account as ACH debits. These are not credit cards - they are debit cards for use only at the designated retailer - swiped and signed just like any other card - only debiting the bank account. Our customer signed up for the card at checkout, provided her banking information, and received a discount for her purchase. One month down the road, she has $900 in debit card purchases that have posted to her account on a card that she says she never received. Can you please describe what would be considered the best practices for a bank in a dispute situation like this? And does the large retailer have a Reg E responsibility here, too? I am particularly thrown here because it is clear that she authorized the ACH debits - but the card purchases were fraudulent. With no control over the instrument or the agreement associated with it, we feel a little blindsided by this new type of dispute.
05/20/2013
Regulation E extends investigation time frames to 90 days for POS transactions. Where do eCommerce transactions fit? Are they under the 45 or 90 timelines for investigation?
05/20/2013
What is the banks responsibility when they receive a freeze from the lottery commission?
05/20/2013
A customer wanted a cashiers check and paid cash that resulted of course into a CTR. A fee was included. When filing the report, do we only put the amount they physically gave us or are we suppose to include the fee?
05/13/2013
I am in need of information regarding cash advances for MasterCard/Visa cards. I understand that we cannot charge a fee for a cash advance for non-customer or any customers but can a fee be charged for non-customers, stating that the transaction is a non-customer transactional fee?
05/13/2013
Do the Letters POD have to be in the address information on the bank statement as long as the POD information is designated on the signature card? I understand the account title has to match the card- but does POD HAVE to be there?
05/13/2013
Here is the situation: a customer deposits $12,000 in cash; they also do a currency exchange for $300 (cash in and cash out). Our processor states that the $300 out does not need to be reported on a CTR since it is not over $10,000. Is this correct?
05/13/2013
Can you tell me if a final application when closing a mortgage is a regulatory requirement, a secondary market requirement, or just part of the process. If it is a regulatory requirement, what date would it have become effective?