Regs/AML
This report must be filed for cash transactions exceeding $10,000 in one business day.
What is a CTR (Currency Transaction Report)
This checking feature allows transactions to go through even when funds are insufficient.
What is overdraft coverage
This regulation governs electronic fund transfers and consumer liability for unauthorized transactions.
What is Regulation E
A customer says someone claiming to be from the IRS told them to withdraw cash immediately. This is likely:
What is a government impersonation scam
A customer has $150,000 in investable assets and ask about long-term retirement planning. They should speak too:
Who is the Investment Executive (Joel Niese)
This acronym refers to verifying a customer's identity when opening an account.
What is CIP (Customer Identification Program)
A customer carries $12,000 in high-interest credit card debt and wants one fixed monthly payment. This would be called:
What is debt consolidation
This act protects consumers from discrimination in lending.
What is the ECOA (Equal Credit Opportunity Act)
A customer ask to wire money to someone they met online who gives the ultimatum "if they love them they will send it". This is commonly:
What is a sweet heart scheme
A customer mentions buying a home in the next 6 months and wants to understand options.
Who is the Mortgage Loan Officer (Kathy Callahan)
This report is required when suspicious activity involving $5,000 or more is detected.
What is a SAR (Suspicious Activity Report)
This home lending product lets customers borrow against their home's equity as needed rather than in a lump sum.
What is a HELOC (Home Equity Line of Credit)
This regulation requires prompt availability of deposited funds.
What is Regulation CC
This function is used when verifying out-state-customers or before performing certain actions in their ACE profile.
What is OTP (One Time Passcode)
A small business owner wants help managing payroll, merchant services, and cash flow tools.
Who is Treasury Managment
Structuring transactions to avoid CTR reporting is illegal under this federal act.
What is the BSA (Bank Secrecy Act)
This account feature allows customers access to a portion of their direct deposit early.
What is MAV (My Advance)
Charging different rates to similarly qualified applicants without a legitimate reason could violate this.
What is the Fair Lending Law
This resource is available to all employees who fear a coworker may be a suspect of fraud.
A business client is hiring rapidly and needs support with onboarding, HR compliance, and benefits tracking.
Who is Paycor (Sean Dixon)
A customer breaks up $12,000 into three $4,000 deposits to avoid reporting. This is called:
What is structuring
A customer comes in wanting to open a CD but does not know the minimum/maximum deposit amount.
What is $5,000 minimum and $249,999 maximum
What is the GLBA (Gramm-Leach-Bliley Act)
What is phishing
A resturant owner wants faster access to card payment funds and better reporting tools.
Who is WorldPay (Nate Washington)