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EFA Change under Dodd-Frank

04/11/2011

Could you direct me where to find in the Dodd-Frank Reform Act where the change to EFA from $100.00 to $200.00 will be happening. I know I read it and now cannot find where I read it. I checked EFA Reg but it has not been updated, but we have updated our disclosures and signage to reflect the $200.00.

Security Committee

01/10/2011

What is a "security committee"? We already have BSA, Compliance, Human Resources, Audit and Executive Committees.

Gross Income for Loan Applicants

10/18/2010

We qualify loan applicants based on gross income. Our credit officer says that tax free income from SSI or VA Disability is the gross income and shouldn't be grossed up. I say the income is net and should be. Who's right? If we don't gross tax SSI up, are we discriminating?

Joint Government Check to Cash

08/09/2010

Is there a regulation stating that a government issued check (i.e., tax refund check) needs to be deposited into a joint account, or if a customer wants to cash the check, that both parties be present at the time of cashing?

When to Do an OFAC Check

05/10/2010

Does the bank have to do an OFAC check on checks that they write, or on contributions, bills, etc.?

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'Member FDIC' in trust department ads

10/13/2024

Our bank has a trust department and they want to run an advertisement. Does "Member FDIC" need to be included in the ad? The ad will state something like, "We can help you with your Trust and Estate Planning."

Certificate of Deposit

09/29/2024

I am new to the compliance function so I apologize if this does not make sense. My question addresses Reg DD and a CD interest payment date vs. maturity date. Here is an example: a CD term is 6 months and interest is paid every 30 days. Since there are more/less than 30 days in some months the interest payment date does coincide with the maturity date, so there are generally a few days between these dates. I am unable to find anything in the TISA reg about this. How and when is interest paid in relation to the maturity of the CD?

Unauthorized Authorized Debits

09/29/2024

If a customer authorizes someone to use their card and gives them the PIN for a specific transaction, and that someone uses the card for additional transactions that were not authorized by the customer, is their any negligence by the customer for giving the card and PIN for the first authorized transaction? What are the requirements according to Reg E ?

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