Due to overwhelming demand, ABA has added a second free, members-only webinar to help bankers understand recent interagency guidance on handling deposit discrepancies. On June 2 at 4 p.m. EDT, ABA staff members will share information they have learned in communicating with the federal banking agencies to help ensure supervisory expectations are clear.
Bankers are asked to register in advance before 5 p.m. EDT on June 1 in order to receive login information. Registration is now closed for the previously announced webinar at 3 p.m.
The guidance reminds bankers that they either must adopt deposit reconciliation policies and procedures designed to avoid discrepancies or policies and procedures that are designed to resolve discrepancies “such that customers are not disadvantaged.” The agencies also advised financial institutions to ensure that deposit reconciliation is integrated into compliance management systems.