Banking Basics
What does the Abbreviation FDIC stand for? Bonus, what does it do?
Federal Deposit Insurance Corporation
What type of loan is secured by real estate?[Often 1st position]
Mortgage
What does KYC stand for?
Know Your Customer
In what year was First Citizens Bank founded?
1898
Who has worked for FCB the longest?
The Aliya Bell
What does it mean if a customer’s account is overdrawn, and what options might the bank offer?
Overdrawn means the account balance is negative. Banks may offer overdraft protection or allow the transaction with fees, savings overdraft protection, Checkline reserve.
What is the difference between a secured and unsecured loan?
A secured loan is backed by collateral; an unsecured loan is not.
What law requires banks to report large cash transactions over $10,000?
The Bank Secrecy Act (BSA)
Where is First Citizens Bank’s headquarters located?
Raleigh, North Carolina
What is the best Branch?
Carmel Commons
What is the current MMS Promo?
Deposit $25k receive 3.75% for 90 days
What is the minimum credit score for a secured credit card?
550
What is money laundering?
The process of disguising the origins of illegally obtained money.
What is FCB’s core mission or slogan often summarized as?
“Forever First.”
What is the teller line Moto?
I forgoooot
What is the current certificate of deposit(CD) promo, not including IRA CD.
5 M - 3.6% , 12 M - 3.5%
What is LTV?
It compares the loan amount to the property’s appraised value; lenders use it to assess risk and determine if PMI or additional collateral is needed.
If you suspect fraud or suspicious activity, what should you do?
Report it immediately to your manager or the compliance department.
Which family has led FCB for multiple generations?
The Holding family
Who Said "Watch this Drive"
The Big G
What does overdraft protection do?
Covers transactions when an account balance is too low, usually by linking another account or line of credit.
Under the Truth in Lending Act (TILA), what key disclosure must be provided to borrowers before closing a consumer loan?
The Annual Percentage Rate (APR) and total finance charges.
What is Regulation E designed to protect?
Consumers from unauthorized electronic fund transfers.
In 2023, FCB made headlines by acquiring which major bank?
Silicon Valley Bank (SVB)
What movie has Matt asked Shelley if she has seen?
The Water Boy