Social Security implements new protocols for changing bank information
The Social Security Administration announced that beneficiaries will no longer be able to change their direct deposit bank information through ...
Tag: Accounts
ABA Regulatory Policy and Compliance Inbox: When is what may seem to be an overdraft … not?
Determining if a bank's payment of a check is an extension of credit. Plus questions on Reg. X and Reg. ...
Fintechs go BaaS fishing
To signal a productive partnership, six questions that BaaS banks should expect to hear from fintech companies.
Bank identification requirements for payable-on-death beneficiaries: Which rule applies?
Also: The Unlawful Internet Gambling Act and account re-opening.
Compliance question of the month: Is it unfair practice to reopen deposit accounts that consumers previously closed to process debits or deposits?
In May 2023, the Consumer Financial Protection Bureau issued Consumer Financial Protection Circular 2023-02 that addresses the reopening of deposit ...
For Community Banks, COVID-19 Brings Existential Concerns to Fore
Business conditions were most often called the single biggest challenge facing community banks, according to an annual survey released yesterday ...
ABA Data Bank: Two in Three Banks Implemented or Upgraded Tech to Serve Customers’ Needs, Enable Remote Work
The top four technologies that banks implemented or upgraded as a result of the COVID-19 pandemic.
Can a Bank Lose its Small Servicer Exemption if it Originates Mortgage Loans That It Sells But Still Services?
…and other answers to your compliance questions in the September/October 2020 ABA Regulatory Policy and Compliance Inbox.
About Face: Military Banks Offer Advice on Remote Customer Relationships
With many banks getting a crash course in serving remote customers, military banks have plenty of experience to share on ...
Digital Onboarding and Origination: The Cure for Banks’ Customer Acquisition Pains
Enhancing banks’ digital sales capabilities, increasing digital product origination and facilitating those cross-sell journeys to customers are the most effective ...
