Most Popular Compliance Content
UDAAP penalties are costly
04/09/2023
How much "teeth" does UDAAP really have to penalize a bank?
Are We Required to Monitor Our Moderate Risk Customers?
04/09/2023
Our automated surveillance monitoring system identified 400 customers as moderate risk. Are we required to monitor the activity?
Do all businesses register for beneficial ownership?
04/09/2023
Do general partnerships have to register with FinCEN?
Should All ATM Owner/Operators be Considered High-Risk?
04/02/2023
We have independent ATM owners as customers. Should we classify them as high-risk?
New Fee - Disclosure Rules
04/02/2023
Our bank charges a telephone transfer fee. This was a new fee added recently. According to Reg E Section 1005.7(b)(5), we must disclose any fees for EFTs or the right to make transfers. I wasn't sure if the fees described in Reg DD applied to this type of transfer fee. Would we need to disclose this fee 21 days prior to the change?