05/06/2002
Reg D Limits: (Scenario: MMDA i/n/o "Deposit Broker, as Agents for others" for which daily settlements are effected.) Are wire transfers from the MMDA limited to 6 per month when the request to wire funds is hand delivered to the institution by a messenger from the deposit broker?
05/01/2002
FinCEN isn't the only agency taking aggressive action to enforce the Bank Secrecy Act. The Federal Reserve recently announced two enforcement actions involving violations of BSA.
04/01/2002
Does Regulation CC apply to Money Market accounts and business accounts? Is it true that savings accounts and Money Market accounts do not follow the guidelines under Reg CC? If so, why? Are we out of compliance when we issue funds availability on these accounts?
03/11/2002
If the bank has a toll free number must that number be used in disclosures where a number is required to be furnished to a customer? Or may we use our "regular" number?
03/04/2002
We were recently infomed from our outside Auditor that with all of the changes in Reg E over the past several years that we needed to do a complete redisclosure to our entire deposit customer base with a separate mailing. We have checked with the state compliance department and they informed us that the only time a Reg E disclosure is required is at the time the account is opened and that a redisclosure is never required. We would appreciate your opinion in this matter.
03/04/2002
Does a wire transfer from a customer's account at our bank to the customer's account at another bank count as one of the 6 transfers? And if the customer is another financial institution, does this have any bearing on the transaction?
02/11/2002
Are ACH debits, such as insurance premiums or merchant bankcard debits, covered within the 3 limitation withdrawals or can there be 6 per cycle?
02/04/2002
Please respond with the simplest and easiest understanding and explanation of Reg D.
02/01/2002
The concept is not new. It is familiar to almost everyone. A cost benefit analysis lays the foundation for deciding whether doing something is a good idea.
01/07/2002
Does Reg E require a new disclosure by Jan. 1, 2002? I read that somewhere but can't seem to find any more info on the details.