TOPIC: Deposit Accounts

Demonstration | Mitigating and Managing Deposit Fraud Losses - Join us Nov 27

November 27 at 12:30 PM - 01:30 PM EST
Mitigating and Managing Deposit Fraud Losses
Cross-Channel Analysis & Machine Learning for Improved Fraud Detection

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Financial institutions across the country are facing an increasing number of deposit fraud attacks as criminals take advantage of the anonymity and convenience of ATM and mobile channels. Meanwhile, consumers are increasingly falling victim to fraud scams, which can have significant emotional and financial effects.

Join us for an overview of Verafin's Fraud Detection and Management solution which includes powerful detection capabilities to mitigate losses from first-party ATM, In-Branch and Mobile deposit schemes, and protects your customers from third-party fraud scams. 
Highlights of this software demonstration include:
  • Targeted alerts for first-party deposit fraud
  • Targeted alerts for deposit fraud scams
  • Machine Learning deposit fraud models
  • Risky Check Analysis
  • Fraud Management solutions
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    Terms and Condition Change Mail out (Cover Page)

    VP at a bank ($897MUSA)
    So according to state law in Texas (Section 34.302 of the Texas Finance Code ), it appears we are supposed to send changes to our deposit contract (AKA Terms & Conditions) in writing. Well our new terms and conditions are too long to send a simple notice of changes, so we are needing to mail out the whole new set of terms. Therefore, I am wanting to send a cover sheet informing our customer what we are sending and the fact that these new set of terms and conditions apply to all deposit accounts (So I can send one to customers with multiple accounts). Does anyone have one already made you wouldn't mind sharing?  

      Premiere Credit Indiana Department of Revenue Tax Levies

      VP at a bank ($809MUSA)
      Good afternoon.  I am desperately searching for answers on how to handle IDR tax levies issued by Premiere Credit.  I have sought the advice of legal counsel but I really need to have a conversation with an Indiana bank that processes them.  Would someone be willing to speak with me on this topic who has a firm understanding of IC 34-55-10-2(c)(3) $400 intangible personal property exemption?  I am getting desperate and could use a life line!

        Demonstration | Preventing Deposit Fraud with Ensenta and Verafin - Join us Oct 16

        October 16 at 12:30 PM - 01:30 PM EST
        Preventing Deposit Fraud with Ensenta and Verafin
        Real-time Integration to prevent losses across multiple deposit channels

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        Does your institution utilize Ensenta (Jack Henry & Associates Inc.) for payments and deposits? Verafin offers integration with Ensenta to deliver innovative deposit fraud detection analytics, importing check deposit information such as check images and MICR data from Ensenta in real time.

        Join us for an overview of how this real-time integration can protect your institution and customers from deposit fraud losses in real-time. We will explore the challenges of conventional deposit fraud detection approaches, the benefits of real-time integration, Ensenta integration workflows, and Verafin’s high-performance deposit fraud analytics and tools.

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          SVP at a bank ($96.1BUSA)
          Greetings. Just curious if anyone uses earnings credit to offset services a bank customer has directly procured through a third party? It is well settled that banks can offset their own services to the customer, and can even hire a third party service provider to provide the services to their customers. My research seems to show that if the customer directly retains the third party, any payment by the bank to the third party would be considered a payment "to or for the account of" the customer and would thus need to be characterized as interest income. FRB Interpretive Letter/Ruling No. 2-540 (Jan. 3, 1974); FR Interpretive Letter to J. Douglas, Unpubished (Oct. 17, 1994). While Reg Q has been repealed, I believe we still can look to these interpretive rulings to determine whether a given service should or shoulr not be characterized as a fee waiver or interest. Thanks.