Does this sound familiar? You “know” there is a particular requirement, yet you cannot find its source, no matter how much you research? It’s possible that you are dealing with an urban legend of banking.
When your account holder's name does not match for IRS purposes, you are sent a CP2100 and your financial institution has to being the B notice process and often times backup withholding on your customer. This is time consuming and expensive.
Does your financial institution want to keep up to speed on the latest regulatory agency expectations with respect to overdraft guidance and best practices? If so, “Overdrafts--- Current Developments” is the webinar you’re looking for.
This two hour webinar will focus on the common mistakes that banks need to be aware of relating to reviewing appraisal reports for minimum compliance with the Interagency Appraisal and Evaluation Guidelines as well as the most recent revisions to USP
Recorded on September 22, 2017
Advanced ACH: Death Notification Entries and Reclamations: A Banks Responsibilities
Processing ACH payments from the Federal Government can be a challenge. Not responding properly to DNEs (Death Notification Entry) and ACH Treasury Reclamations exposes the bank to financial losses, operational risk, compliance risk and legal risk.
So many “rules.” And piles of policies combined with an endless list of procedures, many of which don’t seem to make sense or seem like overkill. Is it really necessary to follow them all? Yes, actually it is. What you may not understand is why.
Why mess with accounts for minors? Boys and girls who are minors today may grow up to be valued customers of your bank in the future. Establishing a relationship with them at an early age may win their loyalty.
Developing new account and deposit operations procedures for fiduciary accounts is not an easy task. Your account holder, the federal government or the court has named someone legally to act on his or her behalf. Now what?