Latest Operations - Internal Controls Topics

Do you have to provide collateral for bankruptcy accounts?

04/14/2019

How are multiple accounts insured by FDIC for Chapter 11 Bankruptcy?

Who opens e-statements and who doesn’t

04/07/2019

If we send e-statements are we required to monitor whether they are being read, and if the customer is not opening them, do we have to revert back to paper?

Titling of bankruptcy account

04/07/2019

How do I title Chapter 7 Bankruptcy?

What if the guardian cannot withdraw money?

03/31/2019

What if the court-order says guardian cannot withdraw without court-order?

Who writes policies and procedures?

03/24/2019

At what level should policy and procedures for handling third-party claims be approved?

Executors act for the decedent not his or herself

03/24/2019

Can an executor have his or her paycheck deposited into the Estate account?

E-SIGN and demonstrable consent

03/24/2019

We like having customers sign up for Internet banking when they open their accounts. Is this acceptable for E-SIGN, or is more needed?

Getting bank counsel involved in policy writing

03/17/2019

Why should we ask bank counsel to review our policies and procedures on handling third-party claims? Doesn’t that just add costs to the effort?

Reg E is “use dependent”

03/17/2019

I have heard that business accounts do not fall under Reg E. How does this apply to internet banking and what about a business account that is a sole proprietorship?

Responsibility for managing third-party claims

03/10/2019

Does our bank have to have a written policy or procedures for handling third-party claims to funds or information?

Vendor Guru Q&A - Operations

Imaging solution consolidation

Lockbox services and accelerated cash flow

Benefits of two-way document exchange with account holders

Benefits of OCR for document management

Benefits of image-enabled ATMs/ITMs

Real-time check processing and fraud

Financial impact of outdated check processing systems

Working through a document backlog

W-9s on IOLTAs

03/24/2024

Can you please advise if IOLTA sub accounts needs to have W-9 signed by the attorney's client, considering the interest goes to the state of bar association (at least here in NJ).

Is a DBA certificate required?

03/24/2024

Is a DBA (Doing Business As) certificate a requirement for CIP purposes? In Arkansas, it is required that a DBA certificate is on file with the county clerk for businesses.

Protecting Customers from Themselves

03/24/2024

We have a customer that is falling for the "publishers clearing house, you won a million dollars" scam and is wanting to send these people $15,000. We have tried to explain to her that it is not real, and she just gets agitated. We talked her out of getting a cashier's check but now the customer has written the scammer a personal check for $15,000. Do we as a bank have a right to place stop payment on this? Can or should we get the police involved? Is there anything to stop this lady from being taken advantage of?

Document management and collateral perfection

03/24/2024

How is collateral perfection impacted by a financial institution’s document management practices?

Check washing fraudulent activity

03/24/2024

What does “check washing” mean?

Latest Operations - Internal Controls Topics

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