acxellrms
  • About acxell
  • Services
    • Internal Audit
    • Risk Advisory
    • Governance
  • acxell Advisor
  • OnCourse Blog
  • Submit RFP
  • Career
  • Log In
Picture
acxell Blog
Our Subject Matter Experts Discuss Emerging Banking Issues

Dealing with Dormant Accounts

11/23/2020

1 Comment

 
Picture
HomeStudio on Shutterstock
Daniel Sclafani
Senior Auditor


What are four dreaded words in banking operations? Date - of - last - contact. Dormant accounts (i.e., accounts with no activity for a certain period of time) can prove challenging for banks, as employees need to contact each customer who has a dormant account for more information and to discuss possible reactivation. So what can your bank do to lessen the burden of dormant account tracking?



Read More
1 Comment

Planning in a Consolidating Banking Industry – Revisited

3/19/2019

0 Comments

 
Picture
In August 2015, a colleague of mine wrote an article titled Planning in a Consolidating Banking Industry.
Now that it is 2019, I took a look at the article to determine whether his predictions, as shown below, are accurate and if there is a decline in banking organizations.


Read More
0 Comments

Flood Coverage – Still a Hot Regulatory Issue

2/20/2019

0 Comments

 
Picture
Photo Credit: Galina Peshkova
Flood certifications, coverage, insurance, and placement – these are common in any financial institution’s compliance vocabulary nowadays. It’s no secret that all regulatory agencies have had “flood” as a hot topic for the past few review cycles. Financial institutions have been reinforcing their knowledge and awareness of the issue. Yet, even with all of the training that banks and credit unions have paid for and had their employees attend, why are financial institutions still receiving flood violations?

Read More
0 Comments

Regulation E and Business Account Errors

11/6/2017

0 Comments

 
Picture
Photo Credit: olegdudko
I was asked this week, how and when does Regulation E apply to business customers if they report a claim? My answer: it doesn’t, but it could.
Regulation E is otherwise known as 12 CFR 1005, Electronic Funds Transfers. The Electronic Funds Transfer Act was passed in 1978 by President Jimmy Carter, to establish the rights and liabilities of consumers as well as the responsibilities of all participants with respect to electronic funds transfer activities.

Read More
0 Comments

Is Regulation CC Put on the Back Burner?

8/15/2017

0 Comments

 
Picture
Photo Credit: prykhodov
Regulation CC was enacted in 1987 in order to standardize hold periods on deposits made to banks and to regulate a bank’s use of deposit holds. There have been many changes throughout the years, but one in particular is that all checks are considered local and clear on a much timelier basis than in earlier years. One thing that remains unchanged is Regulation CC applies to both personal customers and commercial customers.


Read More
0 Comments
    Picture
    OnCourse is a blog dedicated to providing an informative and fresh look at matters that affect the banking and financial industry, including the direction of risk, compliance matters, audit, and more.
    Subscribe

    Categories

    All
    BSA/AML
    Financial
    Human Resources
    IT/Cybersecurity
    Lending
    Regulatory Compliance

    Questions? Suggestions? Comments?
    Email us at OnCourse@acxellrms.com

Services

Internal Audit
Risk Advisory
Governance
Log In

Company

About acxell
Banking Advisor
OnCourse Blog
Career
Picture
877-651-1700

Support

Contact Us
Submit RFP
Privacy Statement
Picture

Let's be friends!

P&G Associates is now acxell
© COPYRIGHT 2020. ALL RIGHTS RESERVED.
  • About acxell
  • Services
    • Internal Audit
    • Risk Advisory
    • Governance
  • acxell Advisor
  • OnCourse Blog
  • Submit RFP
  • Career
  • Log In