TOPIC: Procedures

Procedures for Phase I Exemptions?

Employee at a bank ($196MUSA)


Curious on everyone's procedures for Phase I exemptions.  If a Federal, state, local or interstate government department, agency or authorities (example local city accounts, county treasurers, police or fire departments, etc.) open up an account with you, do you automatically mark them as exempt at account opening in your system since they would be considered a Phase I?

    Guardian Analytics

    Manager at a bank ($488MUSA)
    Do any of you also use Guardian Analytics for Business Online & ACH anomaly detection? We're in the early stages of implementation and data gathering, but I was hoping some more seasoned users would be willing to share their daily process and what you look for/review. Thanks in advance!

      Review of large dollar items

      SVP at a bank ($2.2BUSA)

      We have two different reviews of large dollar items, and are curious as to others are handling these from a risk perspective. I know a lot depends on management's tolerance for risk based on experience/tolerance with losses, but please include your asset size.

      1. As the paying bank, we review all checks over $10,000 paying against our customers’ accounts, approximately 250-350 items. All aspects of the check are reviewed including date, signatures, endorsements, any irregularities.

      2. As the BOFD, we review items over $35,000 that were sent out in yesterday’s cash letter verifying proper endorsements and deposit into the correct account, approximately 50-75 items. These items should have been verified by the teller at the time of deposit.

      We are over $2 billion in assets.

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          UCC processes and procedures

          SVP at a bank ($149MUSA)

          Does anyone in the state of Texas have and would be willing to share procedures and processes for filing a UCC 1 with the state and/or the county, including when it is necessary to file wtih one or both respectively?