Operations
This is the type of hold for which you are required to release $225 immediately and the rest is held for two business days.
Also known as the Expedited Funds Availability Act, this regulation was enacted in 1987 to standardize the holding periods placed on funds deposited into client accounts.
What Reg CC?
The three letter acronym used to aid us to assess the risk level of a transaction by looking at identification, monetary instruments, and the situation.
What is PIC?
Person, Item, Circumstance
The credit card that offers an extending 0% introductory offer, ideal or large purchases or balance transfers?
What is Platinum Card?
This is the official name for the signature on the back of a check.
What is an endorsement?
This is the Official Check Signing and On-us or Transit Check Negotiating Limit for your level.
What are:
CSR 2 - $25,000
CSR 3 - $100,000
CSM & RB - $250,000
BM - Unlimited
Also known as the Electronic Fund Transfer act, this regulation is meant to protect banking customers who use electronic methods to transfer money as well as debit cards.
What is Reg E?
This is the term for a form we should submit when something seems out of the ordinary or suspicious when interacting with a customer.
This account type is designed for individuals who may have had previous charge offs in the past, and has limited amenities.
What is an Access Banking account?
This is the routing number for Premier Bank.
What is 241270851?
What is FINBOA?
Also known as the Truth in Savings Act, this requires that financial institutions provide uniform disclosures about the terms and costs of deposit account. It also requires that advertisements be truthful and free from misleading information.
What is Reg DD?
This is the status you must place on an account if there is suspected fraud to prevent further loss.
What is Post no Debits or Post no Transactions?
This is an open-ended equity loan, which allows customers to draw on the loan as they need it, and are billed an interest only payment for the first 10 years of the loan.
What is a HELOC?
Abbreviated as ACH, this is the system used for electronic payments, often to pay bills, and used the customer's routing and account number rather than a debit card number.
What is Automated Clearing House?
This is the site we must start all transactions in to ensure there are no alerts or problems with the customer's accounts.
What is Sales Management?
Also known as the Equal Credit Opportunity Act, this regulation is designed to protect consumers by prohibiting lenders from discriminating based on age, gender, ethnicity, nationality, or marital status for credit transactions.
What is Regulation B?
The fraudulent practice of sending emails or other messages purporting to be from reputable companies in order to induce individuals to reveal personal information, such as card numbers, SSNs, or passwords.
What is a phishing scam?
This is the terms for the rules which states that individuals who have a retirement account must take a certain percentage of the funds annually once they reach they age of 71 1/2.
What is Required Minimum Distribution?
This is the minimum age requirement for a client to be eligible for a debit card.
What is 14?
This is the maximum permanent increase amount for a consumer debit card.
What is a TRICK QUESTION! We cannot permanently increase consumer debit card POS limits.
Also known as the Truth in Lending Act, this regulation was enacted to protect consumers against deceptive or shady lending practices, by requiring financial institutions to provide certain disclosures, including the total cost of a loan and all terms and conditions like the interest rate and repayment period.
What is Reg Z?
This type of fraud relies on developing a relationship with the victim by posing as someone in need or a romantic interest to get them to provide money, gift cards, etc. to the fraudster. Requests often start out small, then get bigger and bigger.
What is Romance or Pig Butchering scams?
This is a type of loan that allows a customer to use their own money on deposit to borrow against. The funds are placed into a savings account or CD and held until the loan is paid off.
What is Collateral Pledge?
Abbreviated to NMLS, this is a registry of all authorized lenders in the United States. You are not permitted to quote lending rates unless you have been provided a unique number.
What is National Multistate Licensing System?