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Reg D and Q
(Presented By: John Burnett)
Just because they don't change often doesn't mean they aren't technical, difficult or have risks. We see questions every day on what everyone considers "basic" compliance regulations. Regulations D and Q.  | WEBINAR TIME:
11:30AM - 1:30PM PT
12:30PM - 2:30PM MT
1:30PM - 3:30PM CT
2:30PM - 4:30PM ET |  |
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Routinely we see repetitive questions asking who can qualify for a NOW account, what if it isn't a NOW, but is a checking account that earns interest and how does an ATS account relate to either of these? What are the reserve implications if we get the classifications wrong, and does it really matter since we don't hear about fines for this? These questions are asked often because there are many technicalities related to them. These are the "routine" things your examiner will review during a compliance exam.
There are some simple steps you can take to audit yourself and to monitor for compliance. If you don't know what they are, this webinar is a must for you.
When you allow third party transactions on a savings account, there are rules that must be followed and procedures you MUST take.
How are your transactions monitored and is there a standard set of letters sent when abuse is seen?
If you don't want to monitor for excessive transactions and you don't want to send letters or call your customers about this, you should know if there are systemic steps you can take to accomplish the same goal.
Are POS transactions allowed by your debit and ATM cards?
Do you must know what the definition of a savings account is, and how that relates to some
Can you help the customer by automating the transfer of funds from their savings account to a checking?
If you have any questions on these topics, than this webinar is a must for you.
John will lead you through the decision tree process showing you how to determine which transactions are limited, and which of these belong in the three or six bucket. This is where many banks get into trouble.
Since you don't hear about banks being cited for these types of violations they must not be a real problem, right? Well the answer is, most compliance violations are not made public, so you wouldn't hear about them. Regardless, discussions of violations of law, file searches, reclassifications of entire deposit portfolios, refilling of quarterly call reports, fines, lost interest, severely reduced investable funds and higher reserve requirements is not one of the meetings you want to have with your board. To make informed decisions on where the priorities of your financial institution are, you must know the consequences for violations and the requirements of what is needed. If you don't have all of this on Regs. D and Q, this webinar is a must.
John will address these questions and many more.
Join us, and you'll learn -
that using a social security number as a TIN doesn't ALWAYS mean the customer can have a NOW account
that decedent's estates don't always qualify to earn interest on checking
that just because an account runs on your DDA system doesn't mean it's a DDA
that some kinds of promotional premiums can be given to DDA customers without violating Reg. Q
about three different definitions of "interest," and why they should concern you
about the difference between contractual CD penalties and those that are required by regulation
about several situations in which a bank can waive even the mandated penalties
which customers can earn interest on their checking accounts and which cannot
why the definitions of "transaction account" and "savings account" are so important
methods for monitoring transfers from your bank's savings accounts
about some of the attempts to avoid Reg. D's transfer limits that have been "shot down" by the Fed
and lots more!
Speaker Bio
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888-229-8872