Banks with active and imaginative marketing departments can produce some great ideas, but some of the ideas can break some rules. Bank staff members who want to assist local charities can also step outside of legal and regulatory boundaries.
Have you checked off all the Operations changes on your list from 2023? Did you put out all those “fires” that popped up, or are there still some hot spots?
Recorded on January 12, 2024
Alert! Beneficial Ownership Information Access and Safeguar
The Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing the access and safeguard provisions of the Corporate Transparency Act (CTA) (the “Access Rule”).
Many of the inherited IRAs have missed distributions due to the delayed release of the regulations. During this program, we will review what are the rules for inheriting an IRA and distributing to the beneficiaries.
There are many ways to violate military lending rules and some lenders are actively doing this. One lender recently agreed to pay $225,000 because they were not providing the interest rate adjustments the SCRA requires.
Nearly 88 percent of Americans accessed their checking accounts using a smartphone or tablet in 2022, and more than half of that group mobile-deposited one or more checks in 2022.
The Financial Crimes Enforcement Network (FinCEN) published a Small Entity Compliance Guide to assist the small business community in complying with the beneficial ownership information (BOI) reporting rule.