Most Popular Operations Content
Benefits of image-enabled ATMs/ITMs
01/12/2025
How do image-enabled ATMs/ITMs benefit financial institutions?
Use of Nicknames
01/12/2025
How do other banks handle situations where you have an individual who goes by a "preferred name" such as Lillian when their legal name is Lawrence? There is no legal name, identification or SSN change to show as evidence of identity but their place of business is making checks payable to the preferred name as well as their family members. My thing is - how do we know that these checks belong to Lawrence? It could possibly be a family members check.
Electronic delivery of escrow analysis statements
01/12/2025
We are thinking about placing the Annual Escrow Analysis statements on customers' online banking portal (same place where monthly statements reside). In looking at 1024.17 (and its subpart under RESPA), there doesn't appear to be any call out eliminating the need to deliver via USPS. If we went to electronic delivery (within compliance under the ESIGN Act), would we then still have to deliver a physical copy of the annual escrow analysis statement (when required under the same citation)?
A Holding Account for Seized Funds
01/05/2025
I am inquiring about opening an account for local police department. They are needing a non-interest bearing account to hold money in that has been seized. The final disposition will be decided by the courts. Is it possible to open a non-interest account and if so how or what do they need to do in order to obtain this?
Reporting overdrafts in Attorney Trust accounts
01/05/2025
How does a bank in New Jersey report an Attorney Trust account when it is overdrawn?