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
While digital signatures are being tested and used for new applications, the old handwritten signature is still what most of us rely on for identity.
06/20/2005
What is the record retention requirements for imaged loan documents?
05/23/2005
We are thinking about allowing customer to complete a loan application on the Internet and submit it back to the bank via Internet. Must we provide the appropriate disclosures electronically through the Internet? If so what about the new federal consumer credit score disclosure? We will have to run credit before we can get that to the applicant.
05/23/2005
We have a POS and LOS system for our mortgage applications. My question is, if a Member starts an application on the website, runs a credit report but closes out of the system before they have finished the input and the Desktop Underwriter doesn't make a credit decision, does this loan have to be submitted to HMDA? It can't be pushed to our LOS system without the DU response and is considered an "unsubmitted" by our company. Please advise.
04/01/2005
Manufacturers are putting into place the technology that will soon allow our bank-by-telephone customers to conduct transactions by cell phone using their fingerprints to both verify and take actio
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?
01/31/2005
I've read your articles on Reg. E Disclousres on the Web. But we are taking applications for Internet banking via the Web. Do we still need a Reg. E Disclosure and what should we be sure to include and watch for?
06/07/2004
We issue Visa debit cards. We monitor for suspicious activity such as excess cash withdrawals, excessive denials for cash withdrawals and rejection of PINs. Should our disclosures and applications state "the account can be closed at our discretion"?
03/01/2004
Question: We know that records must be maintained for our Customer Identification Program. We are debating how to do this. Do you have any advice?