Most Popular Operations Content
Rule requiring collateral inspection
07/14/2024
What regulation does collateral inspections fall under?
Notifying customers of summonses and subpoenas
07/14/2024
Are we required to give the customer a letter stating they have the right to quash the motion on summonses and subpoenas with the exception of Grand Jury?
Resolving trust account exceptions
07/14/2024
What are some ways that trust account exceptions are resolved?
Branch transformation
07/14/2024
What does “branch transformation” mean in banking?
Are we an ODFI, or not?
07/14/2024
We have come across this debate many times with Nacha rules whether or not we are considered an originating depository financial institution (ODFI). We do not allow our customers to originate ACH files such as payroll, etc. We do allow them to initiate WEB entries for A2A transfers from accounts that they are owners of in order to make loan payments here and transfer funds. Does this mean we are an ODFI?