I'm curious as to how other banks are handling Beneficial Ownership on denied loans? Are you making it a part of your application process or are you waiting and getting information before consummation of the loan? Thank you!!
I'm looking to create a Elder Financial Exploitation program including prevention and training for staff. Anyone have a similar program in place and would like to share?
Looking for a summary of flood insurance for our Board for training purposes. Thank you.
Good Morning! To assist you in calculating the ownership of your legal entity customer when drilling down into the ownership, we've created the attached **Beneficial Ownership Calculator**. Let us know if you have any questions and have a wonderful week!
For as long as I’ve worked at my current FI, cash withdrawals have never been allowed from business accounts. An exploratory discussion about allowing cash withdraws has started, and I was curious how other FI’s handle this topic.
For those of you who use MortgageBotLOS - Do you utilize the interface and did you use CMCC for this purpose? How did it improve efficiency? If you were previously inputting loans manually, how much time was saved in inputting loans to your core system by using the interface? I am trying to justify the cost of implementation of the interface to our Core System (FIS/IBS) and was hoping I could get some input from the Community. Thank you.
I'm looking to possible decrease the number of times a single teller/vault/ATM is audited in a years time, so I'm wondering how often you other Bank's audit the Teller's Drawers, Vaults and ATM Canisters. I was also wondering if you audit the teller's before their required 40 hour vacation from the Bank.
Curious now that a little time has passed and we are collecting Beneficial Ownership how are folks monitoring the collection of this information on the retail and on the loan side? Is the burden falling on the BSA department or on the operations departments?
We are currently preparing to offer HSAs. Can anyone share their current policy & procedures please? I am looking to offer a checking account & debit card (we are obtaining a separate BIN for the HSA card). Does anyone pay interest on the checking account & if so, do you offer a higher rate than your regular checking account product? Do you waive any of your normal fees/charges? If you offer a debit card, have you experienced any Reg E issues (fraud, opt in/out of overdrafts, etc.)? And what type of audits, reports & daily tasks do you perform with these accounts? Thanks in advance!
Hi there, We are curious how others are approaching this topic. We only have a handful of members located in the EU. Are other institutions looking at when their members/customers are traveling in the EU? - Couldn't this apply to those who are traveling? If we were to offer a service that would require the transmittal of personal identifying information to be transmitted from the EU to the US, would that not be subject to this regulation? Obviously a risk assessment is in order, but does anyone have best practices or policies/procedures in place?