Most Popular Compliance Content
Procedures for Claims to Funds
04/21/2024
We received a "Notice of Freeze" from the Florida Department of Revenue on one of our customers. Is there a set procedure for handling such notices from a state authority or do they differ by bank and or the state the bank or the customer is in? Would this procedure be the same for an action from a governmental entity as from a private action like an unpaid debt?
Reg CC and Debit Card Deposits
04/21/2024
Under Reg CC, how are deposits made by debit card treated? (These might be a deposit at an ATM or a merchant refund on a debit card burchase, as examples.) Can we hold these for three days even for existing customers?
FCRA – Permissible Purpose
04/14/2024
Why is a permissible purpose needed to get someone’s credit report?
Including a Trust on a CTR
04/14/2024
We have a client who deposited a reportable cash transaction into he and his wife's trust account. We know we have to file the CTR for both wife and husband (joint account) but do we have to include the trust as a beneficiary?
Stolen Check Info Requires SAR?
04/14/2024
If using a software program, we become aware of a check drawn on our customers account is for sale on Telegram (a marketplace for help depositing a stolen checks) and it is over $25k would a SAR be required? We froze the item and to our knowledge the check was not purchased or negotiated.