TOPIC: Personal Accounts

Closing open-end loans for MRB purpose

Employee at a credit_union ($3.8BUSA)
Hi all,

We are curious what others are using for the “specific” denial reason on an adverse action notice when removing a credit limit on an open-end loan or credit card when marijuana-related activity is discovered on the personal accounts (savings, checking, etc.) and your policy is to close the entire relationship which includes the credit card and/or loan account.

Thank you


    Help Consumers Make Ends Meet During Times of Crisis

    Now, more than ever, your account holders need access to cash at an affordable interest rate. Learn more about our compliant and responsible, small-dollar, short-term loan program and reach out to us to take advantage of our special offer which will allow you to serve consumers who need liquidity during this time of financial unrest.

      Trade Show Raffle Compliance

      Employee at a bank ($148MUSA)
      Our bank is looking to participate in a trade show event, where we will be doing a raffle for prizes (under $600). In order to participate in the raffle, we will have to collect personal information. What are the restrictions/limitations and how can we word it, so we can contact them via phone, text or email? Does anyone have a template of a raffle they have recently used?

        Banks and Credit Unions: Break Down Your Data Silos to Build Up Your Revenue!

        When your account holder data is spread across disparate systems in multiple lines of business, every aspect of your organization’s performance is impeded from acquisition to onboarding to retention – meaning that your institution has likely missed critical service and marketing opportunities in your account holders’ journeys.
        Banks and credit unions that are seeking to become more efficient, productive and agile need to centralize their data into a unified platform.
        Download our free white paper to learn about the many ways you can build up your financial institution’s revenue by breaking down your data silos! 

          5 Things to look for in an Overdraft Service Provider

          Your overdraft service provider can be one of the most important business partners your financial institution employs.

          This document presents critical factors to consider to select an overdraft service provider that can successfully help you:
          • Provide world-class service to your account holders
          • Maximize revenue
          • Manage risk
          • Remain compliant
          Get "5 Things to look for in an Overdraft Service Provider" today!

            Is Your Overdraft Program a Black Box?

            Do you really understand how your overdraft management program calculates overdraft limits? Can you explain the specific factors, trends and overrides that determine the overdraft limit?
            The answers to these, as well as other key questions, shouldn’t be a mystery. Data flows into your system, the data is processed and your system outputs an overdraft limit. But can you describe exactly what happened during that process to your examiners?
            If you can, you’ll be equipped to customize your overdraft program to provide superior service to your account holders! If you can’t, then your overdraft program is a black box. 

            Download our free white paper today! 

              Digital Lending's Top 3 Features That Drive Revenue

              Most financial institution executives are aware of and understand that the term “digital lending” refers to the digitization of all or parts of the loan origination and funding process. Borrowers using a digital solution typically initiate the loan process on a financial institution’s website using a computer or mobile device. They get fast approval or denial of the loan amount, can accept the terms of the loan and sign most documentation using e-sign—all within minutes. 

              However, what are other digital lending solution attributes that can grow loan volume, improve efficiency and translate into bottom line savings and increased income? 

              Download our newest white paper to learn more!

                Symitar Check Hold Limits

                Manager at a credit_union ($402MUSA)
                Are there any Symitar users currently utilizing the Check Hold Base Amount; Check Dep. Total Amount; Check Dep. Total Date; Non-Reg. CC Check Hold Base Amt.; or Non-Reg. CC Check Dep. Total Amt. found in the Account record under Membership Status and Commercial Code? If so, how do you determine what the base amount is in regards to keeping it compliant with with Reg. CC? Attached is an image of what I am referencing. 

                I appreciate any help! Thank you!

                  Looking for DYNAMIC Revenue? Offer DYNAMIC Overdraft Limits!

                  Is your financial institution offering only static, one-size-fits-all overdraft limits? If so, chances are that your overdraft revenue is likewise static.

                  American consumers differ dramatically in their income levels and deposit behavior. So why would you offer the same limit to all your account holders?

                  Download our free white paper to discover the TOP 3 REASONS TO OFFER DYNAMIC OVERDRAFT LIMITS!