06/09/2008
We have just opened a new branch that has an ATM with check imaging capabilities for deposits. They are talking about the branch balancing (taking out the deposits and posting them to our GL) once a week. All our other ATMs get balanced every day. Is there any regulation that requires ATMs that accept deposits be balanced daily? I am concerned about this weekly balancing, if a customer enters the wrong amount on a deposit or if there is a presenter error, and the customer does not notify the branch. Aren't there time limits on correcting these things?
05/21/2007
When reviewing our website, what are the main compliance issues we need to look for?
10/23/2006
If I sell gift cards at my teller window and/or at a merchant’s location, am I required to get new account data such as TIN and driver’s license numbers?
02/27/2006
A mortgage company has approached our bank wanting to pay a specific employee a referral fee, if we would forward real estate loan applications we have turned down to them. I do not see how this is a legal process given Section 8 of RESPA's prohibition of referral fees. The only way I can see it would be legal, is if forwarding the application to the mortgage company would not be defined as a settlement service. I think it would be.
12/16/2005
Vendor Viewpoints:
Year-End Developments & Predictions
08/01/2005
NCR Corporation recently announced availability of a new integrated platform that will allow smaller financial institutions to enhance their image-based operations.
07/01/2005
In our last issue we reported on several companies who are offering systems to help prepare for Check 21.
07/01/2005
On July 30, 2002 the Sarbanes-Oxley Act (SOX) was signed into law.
02/25/2005
09/06/2004
I am currently printing verbiage on the face of checks that I write specifically stating that the payee is NOT authorized to initiate an EFT for payment of a check and the check may not be electronically converted. I am also stating on the face of the check, under the check number, that the serial number is not valid for electronic check conversion. After studying 12 CFR 205 (FRB Regulation E) it seems as though this is the my only chance as a consumer to prevent this practice. What is your opinion? Is the front or back of a check the correct place to put any authorization or conditional information?