Account Regulations
What is Reg CC?
Expedited Funds Availability Act (hold period on funds)
Who is responsible for reporting suspicious activity?
Everyone
What does CIP stand for?
Customer Identification Program
What is NMLS stand for?
National Mortgage Licensing System
Reg CC Notice; where is it located?
Deposit tickets, Drive-up, ATM, and Compliance board
Who do you go to report internal or external suspicious activity?
Create a Jira Ticket to Risk
What does SAR stand for?
Suspicious Activity Report
Who is the BSA Director?
Dan Friend
What is Reg E?
Electronic Funds Transfer (Courtesy Pay)
What is the All-Clear signal and how often do we change it?
Check with your specific branch and it should be changed every Quarter
What is Suspicious Activity?
Structuring deposits to avoid CTR, Kiting, etc
What does CTR Stand for?
Currency Transaction Report
Do you give Reg E (Electronic Funds Transferred) Disclosures out to the customer when they request a debit card for the first time?
Yes, whenever a member orders an ATM, Debit Card or access device for the first time you must give the Reg E disclosures. Business accounts do not receive one because they are not covered under Reg E.
When and how do you file a member complaint?
What do we need to do for the USA Patriot Act?
Collect identity verification of all new and existing members
At what dollar amount do you fill out a CTR?
10,000.01 or more
What documents must be given at account opening?
MSA part 1 (signature card), and MSA Part 2: Disclosures Include: Privacy Policy, Funds Availability(Reg CC), Electronic Funds Transfer(Reg E), and Rate & Fee Schedule
Where is the location of the Robbery Kit and explain the process if one were getting robbed?
Answer specific to each branch; also in emergency handbook
Why was BSA/Anti-Money Laundering mandated?
To help the government locate drug runners, terrorists, and tax evaders.
Where do you locate Fortera Employee NMLS Numbers?
Email, Business Cards, Bottom of Fortera site, Sharepoint under Mortgage Loans and HR