Most Popular Compliance Content
Reg E and Visa's Zero Liability Rule
01/15/2017
We have a customer who was contacted by a company offering a $5,000 loan. Our customer was interested and paid a loan processing fee of $275.99 using their debit card . Our customer was then contacted by the company needing an additional $151.99 in order to pay the taxes on the loan which was also paid by their debit card. When the loan of $5,000.00 never showed up, our customer contacted the company inquiring on the loan and was told that an additional $463.00 was needed to continue the loan process due to the customers low score. The customer has now filed an EFT dispute with the bank. All the fees were processed through Western Union. Visa is claiming that there are no charge back rights and that the customer has to work with the merchant for the funds. This seems to be a classic loan scam. What is the banks liability with the customer in reference to Reg E and Visa's zero liability rule?
Reading the FATF Report
01/15/2017
Do I actually need to read the FATF Mutual Evaluation Report?
Identification for opening an account
01/15/2017
Do we have to get two types of identification for CIP?
SCRA Coverage Expire for Servicemember
01/08/2017
When SCRA coverage is about to expire for a servicemember, what types of disclosures does the bank have to provide? Is there a model disclosure that needs to be used?
Speeding up ACH payments
01/08/2017
Are there any new developments affecting ACH operations?