Most Popular Compliance Content
Eliminating Float a Regulatory Requirement?
04/14/2008
Due to the recent implementation of image cash letter transmissions at our financial institution, we have experienced an increase in our immediate funds availability. Have there been any changes to banking regulations that would require us to change our float tables and eliminate the two day or three day float, as it pertains to paying interest to our clients on these expedited available funds?
Reg B - Application Signed With a "Courtesy Title"
04/14/2008
If a member fills out an individual credit card application and signs it "Mrs. Ethel Jones", has the credit union violated Reg B by accepting a "courtesy title" that indicates the applicant's marital status, which cannot be considered on the application for unsecured credit?
Hand Delivery of Adverse Action Letters
04/07/2008
Can adverse action letters be given to the customer in person in lieu of mailing them?
Requiring e-statements on employee accounts
04/07/2008
Since we cannot require employees to accept e-statements for their deposit accounts, we are trying to develop incentives that will highly encourage them to sign up for the e-delivery. Presently, employees are not charged a service charge for their accounts. Can we change this policy for existing and future employees, so they will receive an account free of charge if they use e-statements? Otherwise they will be charged the normal service charge incurred by customers without violating regulations, thus start assessing a service charge on all existing employee accounts unless they sign up for e-delivery.
Purpose of Wire Transfer Required?
04/07/2008
Are there any compliance regulations that require a bank to request a purpose from the customer on a wire transfer?