Most Popular Compliance Content
How should a check "for" another read?
01/14/2024
Is a check payable "FOR" someone the same as a Representatives Payee? I've seen checks that do not have "Representative Payee for..." just "For..." John Doe FOR Sally Doe Is this sufficient, or what should it read?
Timing Required on Check Exceptions
01/14/2024
I am working with a new core system and we are discussing our exceptions process for items presented that cannot post for various reasons i.e. NSF, closed account, account restriction, etc. This system will not backdate the item to the date of presentment in cases where we choose to pay it. Is there anything that states the item must be "paid" on the date of presentment? Every other core I have ever used in my 28+ years has always backdated the item to the presentment date.
Advertising CD specials on social media
01/14/2024
We are promoting a CD special on social media. The Reg DD advertising disclosures are a drag. Must we include them? Can’t we say something like “call us for details”?
Can we waive early withdrawal penalties on CDs?
01/07/2024
Can we waive early withdrawal penalties on CDs?
When to return stolen checks
12/31/2023
What is the time frame to return a check which was forged or fraudulently altered, i.e. stolen and washed?