Most Popular Compliance Content
Overdraft services will continue to be a target for regulatory scrutiny in 2023
04/16/2023
Did you know that Overdraft programs and the fees associated with them are a focus of the Regulators in 2023?
Verifying Cashier's Checks
04/16/2023
Is there any central contact or easy way to contact larger banks like Bank of America as an example, with a telephone number to verify the validity of a Cashier's Check issued by them. Local branches typically give us "everyone is busy" or it just can't be done. How do smaller community banks verify these if not by phone?
Temporary Servicing Disclosures for Loans and Depo
04/16/2023
We have a very small subsidiary bank whose contract with its core systemes provider is not being renewed. The bank obviously needs a temporary core system until they close a new contract with another provider. One proposed solution is to onboard the small bank's 100 or so customers onto our core. We would manually process the small bank's transaction files from imported data, which our IT teams are handling. Bottom line, the small bank will retain its ABA#, but their debit cards will have to be reissued by us, the larger bank, and during the transition the cards will bear our name. My concern lies in disclosures and compliance. What disclosures do we as the larger, "host" bank need to provide to the smaller bank's customers while their accounts are serviced by us, on our system? The smaller bank is a digital-only bank.
Commercial loans are fair lending issues
04/16/2023
How does fair lending impact commercial loans, which is not “consumer protection” controlled?
Do all businesses register for beneficial ownership?
04/09/2023
Do general partnerships have to register with FinCEN?