Compliance Q&A Archive

Deposit Holds

Q: If we doubt the collectability of a check that a customer presents to the Bank, are we able to put “an indefinite” hold on the funds? A: While Reg. CC does not specify the allowable duration of an exception hold for this reason, the Reg. ...Read More

Q: This is a CARES Act question on credit bureau reporting for consumer-purpose loans. For those loans that have requested forbearance or other payment accommodations during the pandemic, we are not reporting those accounts as late (nor charging fees). However, if a loan does go ...Read More