Vendor Guru Q&A - Compliance

Latest Compliance - Operations Topics

Leap Year Reminder

10/01/1996

If your bank calculates interest using 365 days, this is a good time to check whether your system converted to 366 for leap year (1996).

Question & Answer

08/01/1996

Question: We are organizing a compliance committee and are having a debate about whether to include a representative from operations. What do you recommend?

Just Who Is this Customer?

06/01/1996

You need to know who your customer is, and some of what the customer is up to, to ensure that your institution is not being used for illegal purposes.

ADA: Key Concepts for Risk Management

06/01/1996

The Americans with Disabilities Act (ADA) requires banks to make "reasonable accommodations" to disabled persons where doing so is "readily achievable." "Reasonable accommodation" means making adj

The Examiner's "Top Ten" In Bank Secrecy Act Violations

11/01/1995

With the issuance of the new Currency Transaction Form (CTR - Form 4789) it's time to take another look at what we're doing right-and, more importantly, what we're doing wrong in complying with the

Question & Answer

02/01/1994

Question: We're already subscribers to the BANKERS' HOTLINE and we got an ad through the mail addressed to the "Auditor" of our financial institution.

With foreclosures of 1-4 family properties, including condos, is the bank required to give the 90-day Notice to Vacate under the Protecting Tenants at Foreclosure to all tenants, even if the bank has no plans to evict them?

Benefits of effective exception management

02/05/2023

What are some potential benefits of implementing an effective exception management program?

Reg CC Holds on Treasury Checks

01/29/2023

Can a US Treasury check be placed on a funds availability hold and for how long?

Freezing Future Deposits Upon Notice

01/29/2023

If an account doesn't have the entire amount specified in a "Notice of Freeze" and in this case it is from the Florida Department of Revenue, do we hold just what is in the account the day we receive the notice, or do we place a hold on the account for the entire amount of the notice thereby holding all future deposits up to the hold amount? (The Florida DOR collects taxes and child support.)

Joint Owner Dies - New Account Required?

01/29/2023

The bank has a joint checking account, husband and wife. The wife recently passed away and my husband would like to add his two children to the account. The customer thought it would be a simple process of providing a death certificate but the new accounts person said they need to open a new checking account. What is acceptable or required in a case like this to have the father and kids on one account?

Latest Compliance - Operations Topics

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