Latest Operations - FRB Topics

Employees at Mellon Bank in Rockville, Maryland have a good handle on what the Community Reinvestment Act is all about.

Question: Thanks for the information on the new Criminal Referral Form. It says we have to use "originals" for FinCEN. Can we scan the form into our computer and use it from there?

When Regulation CC was put into practice in 1988, we were advised at that time to have our customers endorse their checks on the back, at the top, and if possible take up no more than one and one h

Question: Under Regulation DD, if the ticket accompanies the statement indicating the type of charge, then can the statement say "Miscellaneous debit"?

We recently had the privilege of attending the Prentice Hall Conference on FDICIA (Federal Deposit Insurance Corporation Improvement Act of 1991) in Washington, DC, and would like to pass on some o

Question: "Under Regulation D our money market account is restricted to six transactions in a month. Is a fax considered to be one of the six?"

Question: In one of your seminars, you said that if the joint owner of an account came in to make an over $10,000 cash deposit, we had to list the other owner of the account in the "on behal

Additional Burdens-But Not All Bad News

The American Bankers Association recently ran a two day conference in Washington, DC on the Truth In Savings Act (TISA), (Regulation DD) and the Savings & Community Bankers also included a majo

A banker in the Bank Secrecy Act session at the American Bankers Association Compliance Conference asked Rich Small from the Federal Reserve if the powers that be have thought about changing the na