04/01/2005
In recent years, we have coined a variety of terms for high-cost, short term loans. The names can vary from late payment fees through overdraft protection to payday lending.
03/07/2005
I recently heard about an FDIC rule regarding the use of social security numbers for logins and/or passwords to access accounts online. I have tried to find more information regarding this but have been unable to come up with anything.
02/01/2005
The five bank regulatory agencies have released a new brochure designed to help consumers deal with the timing of Check 21, which is expected to cut check float dramatically.
02/01/2005
A written application form for registration for FDICconnect was attached to Financial Institution Letter (FIL) 93-2003.
02/01/2005
Question: Do you know of any new requirement by examiners from FDIC that BSA training must be done in person/on site? We're an11 person, $30 million dollar bank.
01/31/2005
I'm the Internal Auditor of a community bank and will really appreciate your help with this. I'm working on the BSA Internal Audit and was trying to see if the FDIC/State requires for all employees to complete their BSA training, regardless of their department? We have a very good compliance program and training but it seems that some of the Loan department has not finish or even started with their online BSA training. Should I include as a recommendation to make sure that all employees complete their BSA training or should I write it up as violation? If you advise me to write it as a violation, give me good arguments because I have a stubborn Compliance Officer. Once again I would like to thank you for your time and assistance.
01/31/2005
Can a convicted felon, convicted of a non-banking crime, work for a FDIC insured bank or for a bank in the state of Georgia?
01/31/2005
In a recent FDIC exam report, we were asked to develop a firewall policy. As I understand it, this will simply outline the firewalls and provide addresses. We have a schematic, but I sense the FDIC is expecting something else. Any suggestions?
01/01/2005
The Federal Deposit Insurance Corporation (FDIC) has produced a one and a half hour video, billed as a "...comprehensive seminar on the FDIC's rules and requirements for deposit insurance coverage.
01/01/2005
It is not a secret - indeed we have widely advertised - that this newsletter is meant for the community banks. Megabanks and larger institutions write their own newsletters.