Most Popular Compliance Content
Authorized Signers and Corp. Accounts
01/26/2025
When opening a business account for a corporate entity, the authorized singers don’t necessarily have to be listed on the statement of information, is that correct? This would mean if the bank uses an internal corporate resolution form and it specifies the signers, and the form is signed by the corporate secretary, then the signers can be added, is that corrrect? Also, does the corporate secretary need to sign the EIN certification portion of the bank signature card, even if the corporate secretary isn’t one of the authorized singers?
Paper CDs - Lost
01/26/2025
When we issue a certificate of deposit we inform our customers that they will need to present the actuall certificate to to make any withdrawal or close the account. If they are unable to present the certificate, we require a lost indemnity form but only require one of the account holders to sign it, unless the account agreement stipulates otherwise. Should we have all the account holders sign the lost indemnity form regardless? We were also curious if anyone charges a fee for this processing?
Recovering funds for a wire transfer fraud victim
01/19/2025
If wire transfers are made to what has been described as a legitimate business to the customer, is it valid that the customer is not able to have their money insured and get it back if the business is not legitimate and the customer is defrauded?
Identifying a bank's branch locations
01/19/2025
Why Is it so difficult to ascertain whether or not an online bank has physical bank locations?
Reg CC and ATM Deposits
01/12/2025
How does Reg CC impact deposits made at ATMs, are there required notices or procedures and are they different for your own ATMs and others?