State of the Financial Services Industry Survey - Last Chance for Participation

We're polling hundreds of financial institutions to better understand concerns in today's changing economy. The survey areas covered include the Paycheck Protection Program, M&A, loan workouts, CECL, and more. With your insights, Abrigo can create educational resources catered to your top priorities:

You'll be entered to win a Starbucks gift card just for completing the 5 min. survey.

handling home inspection fee

VP at a bank ($611MUSA)
For mortgage lenders:  Would you please share how your bank handles the home inspection fee when the purchase agreement is contingent upon an inspection being performed?   Do you disclose the fee in section H of the LE and then in section C of the  CD as a service the borrower shopped/paid before closing ?   Do you require proof of payment to the inspector prior to loan approval? Or, do you ignore it?  My view is that although it is a contingency of the PA, it is NOT a condition of the loan and the bank shouldn't get involved, but there are differing opinions in our bank. I would appreciate hearing what others are doing. Thank you!

Experian Precise ID

Manager at a credit_union ($1.8BUSA)

We currently utilize CBC Innovis for ID verification through MeridianLink and are in the process of switching to Experian Precise ID. Does anyone have any sample procedures for your staff or any recommendations of how we can best instruct staff to use this product? We want to provide clear guidance as far as thresholds for the various scores, when to refer an app to Fraud/BSA, when to request additional documentation, resolving discrepancies, etc. 

Any input you may be able to provide is greatly appreciated. We will be utilizing this product for in-branch account opening and online account opening. 

ATM Deposits

SVP at a bank ($1.1BUSA)
If you allow deposits at your ATM's do you give next day availability or do you delay it?  I'm also curious about your deposit review process if you would please share that.  Are you able to see deposits immediately or do you have a next day review process?

I'm also curious if any of you have considered or are using a deposit limit, similar to a withdrawal limit.  We are an FIS Horizon core bank and I can't seem to find where that might be possible.

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June 03 at 12:30 PM - 01:30 PM EST
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Debit Card Dispute - Ebay

Employee at a bank ($307MUSA)
I have a customer with a debit card dispute with Ebay for an unauthorized transaction. We received documentation from the merchant that the product was received. We notified the custome who then forwarded us an email from Ebay (dated before the fraudulent transaction happened) saying the Ebay account was hacked and the customer needed to change their password. The customer did not do this, and then the fraud occured on the account.

Are we liable for this transaction or the customer?

Bri Wimley