Most Popular Compliance Content
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 ?
Risk rating coffee shops as business customers
09/29/2024
Do coffee shops fall under the restaurant category, making them high risk according to FinCEN?
Batch processing vs. transaction level processing for deposits automation
09/22/2024
Why are financial institutions moving away from batch processing?
HSAs and Balance Transfers
09/15/2024
Are banks held accountable when customers transfer money from HSA accounts to personal accounts or LLC accounts?