Most Popular Operations Content
Benefits of merchant remote deposit capture
04/28/2024
Why is remote deposit capture beneficial to merchants?
Is cash suspicious?
04/28/2024
If our customer deals in cash does that make him or her suspicious for BSA?
A possibly unfair depositor fee
04/28/2024
What is the bank depositor fee that the CFPB suggests may be an unfair act or practice?
Banks affected by the CFPB’s “Surprise fees” guidance
04/21/2024
What financial institutions are affected by the CFPB’s guidance on surprise overdraft and depositor fees?
Un-doing Two Sigs Required
04/21/2024
We have a number of deposit accounts that were opened where the accountholder desired to have two signatures required for withdrawals. As this has become burdensome for bank staff to verify the incoming clearing checks, we would like to eliminate this requirement. For the existing account holders, what, if any, notification is required? The account agreements on file currently state "Except as otherwise provided by law or other documents, each of the undersigned is authorized to make withdrawals from the account, provided the required number of signatures indicated above is satisfied." The number of signatures above on the signature card states 2.