Latest Compliance - Security Topics

Mobile deposit chargeback and indemnity

10/08/2023

My back accepted a mobile-deposited check that was returned by the paying bank as “previously paid.” Our depositor has apparently left town – his account with us is closed. The paying bank told us the check had been mobile deposited at a local credit union two days before it was deposited with us. Do we have any claim against that credit union to recover our loss?

Reg E is “use dependent”

03/19/2023

I have heard that business accounts do not fall under Reg E. How does this apply to internet banking and what about a business account that is a sole proprietorship?

Basic steps for Reg E claims

03/12/2023

Must we go through the formalities of an investigation and document what we’ve done such as paying provisional credit on claims that were made timely?

EFTs & Aggravated Ignorance

03/05/2023

Why can't we hold customers liable for carrying their PIN with their card?

3 items for Reg E liability

02/19/2023

A customer had a charge out of his account six months ago. That’s old and means he has unlimited liability so we don’t have to investigate it. Is that right?

10 Years to pay out IRA

01/16/2022

What is the difference between an eligible designated beneficiary and a designated beneficiary?

RFPA Certificate of Compliance

10/03/2021

Is it permissible for the government to simply give us the certificate of compliance at the same time they give us the subpoena?

RFPA Certificate of Compliance

10/03/2021

Is it permissible for the government to simply give us the certificate of compliance at the same time they give us the subpoena?

Where to Send Counterfeit Currency

06/20/2021

Is a bank required to send in counterfeit currency to the Secret Service or report and turn it into the local police department?

Will CMPs rise 300%?

05/30/2021

What will our industry expect as to civil money penalties in the next year.

Vendor Guru Q&A's - Compliance

Compliance tiers for Dodd-Frank Section 1071

Data privacy & Section 1071

Batch processing vs. transaction level processing for deposits automation

Section 1071

Exception management and better audits

Resolving credit and loan document exceptions

Proactive loan exception management

Tracking loan policy exceptions

Reasons for loan policy exceptions

Audits and document management

Identifying a bank's branch locations

01/19/2025

Why Is it so difficult to ascertain whether or not an online bank has physical bank locations?

Recovering funds for a wire transfer fraud victim

01/19/2025

If wire transfers are made to what has been described as a legitimate business to the customer, is it valid that the customer is not able to have their money insured and get it back if the business is not legitimate and the customer is defrauded?

Reg CC and ATM Deposits

01/12/2025

How does Reg CC impact deposits made at ATMs, are there required notices or procedures and are they different for your own ATMs and others?

Is this a lottery or a sweepstakes?

01/05/2025

Our debit card vendor, TransFund, is doing a 50th Anniversary giveaway to its cardholders. In order for our cardholders to be eligible, we have to register our bank for the giveaway. If we do register our bank, every time our cardholders use their TransFund debit card for a qualifying purchase, they are automatically entered to win. TransFund will be awarding a $1,000 winner each month, qualifying them to win their choice of a new car, valued up to $50,000. In addition, TransFund will be giving away $500 per month to a qualifying cardholder who uses a TransFund ATM. TransFund is calling this a sweepstakes, but wouldn't this be considered a lottery? Can our bank register for this and then market it to our customers? I'm having a hard time understanding why a debit card vendor that does business with hundreds of banks in different states would put them at risk with the law by offering a lottery to its customers. I'm hoping my understanding of a lottery is just wrong. Any guidance you can give me, would be greatly appreciated.

Who's responsible for delayed billing?

01/05/2025

We have a customer that used a debit card to rent a car on 11/22/2022. The preauthorization amount was for $854.60. The customer has since disappeared. The rental car company has finally sent through a posting transaction on 03/13/2023 using that original authorization in the amount of $38,843.18. Can the rental company send that much through using the same authorization? Is there a time frame the merchant has to complete the transaction? Can I dispute this transaction through ACH or credit/debit card rules or something else?

Latest Compliance - Security Topics

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