01/01/2004
Question: I have a question about money market accounts. I know that money market accounts are limited to six transactions per month, three of which can be in check form.
11/17/2003
What are some suggested policies that should be included in an Employee Handbook?
07/22/2003
A bill clearing the way for electronic checks passed unanimously in the House of Representatives and was on its way through the Senate at press time.
06/16/2003
We are working on our AML procedures and training and are trying to find examples of how someone would launder money by using a loan. We have come up with buying a CD with a small amount of cash, pledging it on a loan, and using it to pay off the loan. What other examples can you give?
04/30/2003
Fifth Third Bank is counting on the popularity of Internet bill payment to build business and loyalty, offering a bill paying service it bills as "free" to new account holders.
02/17/2003
An issue has come up a couple times in the recent past: Our customers are sending emails directly to our employees, especially our commercial customers. The emails are not encrypted or password protected and they often contain non-public information - loan requests, updates on rent rolls, financial information on their company. Our customers want us to communicate in email form. We offer email that is encrypted via our Internet banking product. However, the lenders are telling me that their customers will not go through the inconvenience of logging in to Internet banking to communicate. Our Privacy Policy does extend beyond the minimum requirements of GLB; we opted to include commercial customers under the privacy blanket. Our E:Banking Policy does not address communication of non public information via email (incoming or outgoing). Does anyone have a practical solution to this growing concern?
02/01/2003
Business Bank of Nevada recently announced a new automated teller machine Visa debit card product designed exclusively for businesses.
02/01/2003
SAR Initiates Investigation of Illegal Money Transfers to Iran
01/20/2003
The bank would like to disclose "security reasons" as the reason not to list transfer limitations in its Reg E disclosures. I see model language (For security reasons, there are limits on the number of transfers you can make using our [terminals] [telephone billpayment service] [pointofsale transfer service].) for the "frequency" of transfers but not for the "dollar amount" of transfers. Can you use similar language for the dollar amount of transfers?
10/01/2002
Question: We are presently using a spreadsheet for tracking internal funds transfers between our customers involving $3000 or more, and keeping the records on file.