Bio:
Mary Beth Guard is one of the four co-founders of BankersOnline and is now Editor Emeritus, after more than 16 years of serving as Executive Editor. She was instrumental in the creation and expansion of BankersOnline, as well as the launch more than a decade ago of BOL Conferences, Inc. and its continued operation and growth. Mary Beth is also the director of BankCompliance.com, the subscription-based compliance service now being offered online. Also, Mary Beth serves as CEO of Glia Group, Inc., which produces BOL Learning Connect. For nearly four decades, Mary Beth has utilized her background as an attorney to focus on banking industry issues, first as general counsel for the Oklahoma State Banking Department, then as general counsel for the Oklahoma Bankers Association, prior to her work with BankersOnline.
Mary Beth has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. She is a frequent presenter of webinars and seminars. In addition, Mary Beth has written more than a thousand banking-related articles and is BOL Guru #1.
Areas of Expertise:
Compliance Seminars
Lending & Operations Compliance Matrices
Questions Answered
02/05/2001
For the Funds Availability NoticeDo you have to state a cutoff hour on the notice? As of today, we have a general notice stating "next day", "second day" for certain types of transactions.
02/05/2001
In order to use Exception 40.13 in the Privacy Reg, specific language has to be in the contract with the institution you will be joint marketing information. Is there specific language that is to be used in order to meet this?
01/15/2001
I have the following two questions relating to Operations and Security: 1. Is a bank required to cash a check drawn on itself for a non customer. If the bank is required, are there circumstances when the bank can legally refuse to cash the check. 2. A known customer under no form of duress requests a LARGE CASH withdrawal and provides the Bank reasonable notice to order the funds. Can the bank refuse to release CASH and require the customer to take a cashier's or wire the funds etc?
01/15/2001
A customer opened a CD with 3 beneficiaries. The customer died prior to maturity. The beneficiaries want to renew the CD under the original customer' name and TIN and have the interest paid to one of the beneficiaries. Can the bank renew a CD in a deceased persons name or should it be renewed in the name of the estate or the name of the beneficiaries?
01/15/2001
Where is the "signature less" checks covered? What is the Bank's liability if we pay these without written authorization?
01/15/2001
An officer has recommended that when a check is presented to a teller in person and refused because it is NSF that the check be stamped NSF before it is given back to the payee. Is there a requirement for this situation or suggestion?
01/15/2001
I'm interested in learning about banks who use the Thumbprint Signature Program as part of their account opening procedures. Are there any legal or discriminatory issues we need to be cautious about. I am presenting the Thumbprint Signature to our Senior Mgmt and I'm curious if any other financial institution is using the program as part of their new account procedures. We'd like to incorporate this and I'm trying to determine if we are in any violation of compliance or civil rights codes.
01/15/2001
Our bank has recently moved to imaging and we now have occasion to use an imaged item (in an endorsement claim) as a replacement for the original which has been destroyed. Is there a stamp or a standard practice used to notify the receiving bank of this item that the imaged copy has now "become" the actual check?
01/15/2001
We accepted a check for deposit back in February. The check was charged to our corespondent account this month. When we originally deposited this item with our corespondent in February out bank endorsement was missing and when the paying bank did not honor it they couldn't figure out the bank of first deposit, so they sent it to our corespondent. The corespondent sent it back to the paying bank. This went on 5 times. Finally the corespondent ended up with the item in May and has been sitting on it ever since. They finally figured out it was presented by us and charged it back. The problem now is the payor account is closed (since March) and the deposit account at our bank is closed. What recourse do we have after 10 months?
01/15/2001
Define predatory lending.
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