04/06/2025
Are banks legally obligated to perform credit checks when H-2A workers apply for a basic bank account? Our banks serve large agricultural communities where farmers frequently hire foreign workers through qualified programs. Since most H-2A workers do not have established credit histories, we’re curious whether conducting credit checks is standard practice or if alternative verification methods are commonly used.
03/23/2025
I need suggestions for preparing an account service agreement for MSB accounts. We have a questionnaire attached to our applications to confirm transactions, etc., but lack a true service agreement beyond our standard commercial account agreement.
03/16/2025
A customer authorized a transaction with Apple Cash but says they didn't receive anything. Since this transaction was authorized by the customer, is this covered under Reg E's error claims rules?. The customer was attempting to purchase something on Facebook marketplace but never got the item.
03/02/2025
We have seen an uptick in merchant credits for disputed transactions, and these credits areduplicated in the cardholder's account, (the bank's final credit and a merchant credit). My question is, are banks able to reverse merchant credits after the final credit has been supplied to the cardholder?
03/02/2025
My question is related to checking accounts that go into the negative and are facing potential charge off. I am looking to see what the rules and regulations are in regard to sending negative checking accounts (depending on the amount) to a third-party collector. Is this allowed? I cannot find anything anywhere stating that it is allowed.
02/23/2025
We have a member that we have called several times to confirm a check for things like a check number differing from what's shown in the MICR line and other things. Each time, he has informed us that his CPA was having issues, and asked us to pay the item. Recently he added a business partner who has reviewed the account and identified the items which were approved, and says they were in fact altered.
The member now wants to make a claim on these checks. Would we be able to deny the claim since he had previously approved them?
02/23/2025
I am just wondering if anyone has a process for when a customer passes away. Is there a care package sent out? Or a letter notifying the other account owners of their options? Or, in the case of a single owner, a letter sent to the last known address with options? I am looking to not have such a detached process. Our customers are like family at the bank I work for.
02/16/2025
A previous manager who left our bank previously signed up to receive SSI 4641 requests electronically. We have been getting emails from the service about these requests, but we are trying to find out if we are required to respond. I read that it's legal for the Social Security Administration to request this information, but couldn't find anything stating that banks must comply,especially since i have seen that majority of the types of requests can be fake or won't have customer authorization attached to them. Are we required as a financial institution to comply with these requests?
02/09/2025
A customer came to the bank and withdrew $10,000 in cash, and then went to another financial institution's ATM and withdrew $400. Both transactions posted to the customer's account on the same business date. Do we need to file a CTR? If so, please explain why.
02/02/2025
I have been in our bank's treasury department for many years and never been part of, or seen, a Positive Pay audit. Our new auditor wants to put an audit process in place for it. What would be the compliance reason to perform an audit on Positive Pay?