When you build training that is technical, how do you get it from the regulation to application?
We want to do online technical training. Is that possible?
During one of our recent exams, it was suggested by the examiners that we open accounts online (which surprised us); they would like us to phase out our brokered deposits and felt we could replace these deposits by opening accounts online. I have been trying to gather some information on what is involved in opening accounts online, in particular the risks involved; how to handle CIP, how to handle disclosures and how to obtain the initial deposit. I put out a question on Banker Threads, but did not receive much information. Can you direct me to any information that would help?Also, our president would like me to do a comparison to Free Checking - the pros and cons vs online accounts. While I have not experienced opening accounts online, I have been at a bank (some years ago) that offered free checking and we had a good experience. Few losses, customers really liked not having to worry about a maintenance fee, and the average balance tended to be around $3,000. I was wondering if you could direct me to any other sources that might be able to provide information or statistics on free checking?
I have found both 45 calendar days and 90 calendar days as the number for final resolutions in Reg E disputes. What is the difference between these two?
My question is related to PART 205—ELECTRONIC FUND TRANSFERS (REGULATION E) Section 205.17 Requirements for overdraft services. <i>(iv) Provides the consumer with confirmation of the consumer's consent in writing, or if the consumer agrees, electronically, which includes a statement informing the consumer of the right to revoke such consent.</i> For new accounts, will this requirement for confirmation be satisfied if the new account disclosures contain the appropriate language, or are we required to mail a separate confirmation to the customer who opts in after the fact?
When we open new accounts, we like having customers sign up for online banking at that time. Marketing created a form where the customer waives the requirements for demonstrable consent and certifies they meet the hardware and software requirements we have to get our e-statements. Is this satisfactory?
We are a small three branch bank. Our CEO is pressuring the staff to open new checking/savings accounts online at our website. I have been to numerous banking seminars, and from what I understand, banks that currently are opening up new accounts on their websites are suffering substantial losses. What can we do to prevent this from happening at our institution in the event we decide to open new accounts on the Web? And can we restrict the opening of new accounts to residents of our state only?
Our bank is going to start offering online loan applications for customers to print, fill out and send in for home mortgages. Do we have to give any disclosures out on the Web site to customers printing up a loan application? We will also be taking applications for new accounts online. To stay in compliance with the CIP regulation, will they have to come into the bank for the account to be opened? Do we have to have the disclosures online or can they be given to the customer when the customer comes into the branch?
I am reviewing a bank's online website. On a few of the web pages for their on-line banking services (transfers, etc.) and on the pages applying for the services, the bank name is at the top of the page but no Member FDIC symbol is on the page. I thought that since the bank name is on the page the Member FDIC symbol must also be on the page; however, the FFIEC's Guidance on Electronic Financial Services and Consumer Compliance states that the official bank sign is not currently required to be displayed on an institution's on-line system. What is their definition of an online system. The bank's internet application page is maintained by Funds Xpress. Is this an online system?
I would like to get some information about e-banking as a new bank service on the net. I would need some generaldata or explenation in general on:<ol><li>What is an e-banking</li><li>Is it successful?</li><li>Where and how it was developed.</li><li>How is it going to developed/changed be in the nearest future</li><li>In which way does it change the communication standard: SENDER -> RECEIVER.</li><li>How has it changed the forms of documents in banking service?</li><li>Advdantages and disadvantages of the e-banking</li></ol>