Most Popular Operations Content
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?
Electronic lockbox
01/05/2025
What is an electronic lockbox?
You can’t change Reg E because you want to
12/29/2024
How can we shorten the time limits in regard to a customer reporting a problem in for Reg E? Our card agreement requires provisional credit in five business days, so we want the customer to be forced to notify us sooner.
Authorized signers on a bank's own accounts
12/29/2024
I'm looking for some insight on bank controlled internal accounts (i.e. cashier's checks, accounts payable, interest disbursements, etc). I need to perform account maintenance and add signers to the accounts. Are there any compliance regulations that can help steer me in the right direction as to who in our institution should be signers on these accounts? For our cashier's checks, we are not limited to bank officers, so any employee with signing authority can sign a check, but they do not have access to the accounts outside of that. There has been debate about who should be on the accounts and if it needs to be those who are reconciling or processing funds.