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Section 1

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What monetary instruments are covered by the BSA

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1 / 37

Law

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Last updated

6 years ago

Date created

Mar 1, 2020

Cards (37)

Section 1

(37 cards)

What monetary instruments are covered by the BSA

Front

Cashier's Checks, Personal Money Orders, and Foreign Drafts

Back

What are the potential consequences for noncompliance with AML req

Front

Loss of good standing and reputation Imprisonment Fines Cease and desist

Back

Red flags would indicate fraud?

Front

Customer is both payer and maker of the check Hand writing on check is same as writing on the back

Back

MSB?

Front

Money service business Business acts like bank but not bank Check cashed Issue of travelers checks money orders Seller of prepaid cards US Postal Service

Back

What makes up the privacy statement

Front

U.S. Bank privacy choice National do not call list

Back

If there are no upfront fees what does the APR rate equal

Front

Finance charges plus interest rate

Back

What is inside the post robbery packet?

Front

Checklist, Closure signs, Description forms FDIC information

Back

BSA

Front

Bank secrecy act Business provides bank services

Back

How long does it take for OD request from yes to no/ no to yes

Front

Yes to no- immediately No to yes- 3-5 bus days

Back

When contacting a customer by phone product or service what is required to be verified and reviewed

Front

Identify customer privacy statement

Back

What is required prior to releasing info over the phone?

Front

Minimum of 3 verification options Mothers maiden name Last deposit

Back

US bank policy all lending practices for all credit products and services

Front

Fair lending policy

Back

To whom should you report a MSB

Front

AML anti-money laundery

Back

Adverse actions are available where?

Front

Loan document retrieval system LDRS under the ACAPS number

Back

What information must be given to a customer if they request information about your personal cd

Front

Consumer pricing information brochure Current deposit rates Copy of the trust and savings disclosure

Back

customer states they received a call from someone who needed additional information about their account and they are concerned about giving away confidential information

Front

Verified the request is legit and contact the FCC team

Back

What type of business would not require a conductor profile?

Front

Business that is CTR exempt

Back

What is not covered under REG E

Front

Domestic wires Domestic WU

Back

What is covered under REG E

Front

Withdraws, deposits, transfers Merchant purchases Online banking/ mobile Pre authorized payments Automatic deposits/ transfers Telephone transfers International wires Electronic check International Western Union

Back

is a business that is cashing its own payroll checks considered a MSB?

Front

No!

Back

4 keywords used to identify a sensitive complaint

Front

Age race gender sexual orientation religion

Back

How do you respond if you answer the phone and receive bomb threat

Front

Remain calm listen and cooperate use the bomb threat checklist to document facts signal coworker without speaking

Back

What do you do with the disclosures that print

Front

Give a copy to the customer and returned the signed copy

Back

ACAPS generates adverse action notifications in how many bus days?

Front

Hard- 5 days Credit/policy turndown- 5 days Soft - 20 days

Back

What documentation is required prior to releasing info to power of attorney, executor, POD?

Front

ID and notarized legal docs such as power of attorney papers, death certificate...

Back

Case by case reason placing a hold?

Front

Back

What does reg B require us to retain on a turn down loan application?

Front

Retention of the application and notice of action taken

Back

What forms are used by the bank for reporting BSA compliance

Front

CTR MICL IRF

Back

How do you respond if security control calls and asks for the balance of accounting 101 and if there is a robbery in progress and you cannot talk

Front

Make an excuse to hang up the phone such as saying we close at 7

Back

If there are no upfront fees is the annual percentage rate the same as the interest-rate?

Front

Yes

Back

If a customer requests info regarding loan decline What information can be given to them

Front

Adverse action will be mailed

Back

How would you identify a MSB

Front

KYC Personal knowledge

Back

What type of transaction constitutes a REG E claim? What are the required response times?

Front

10 business days to provide provisional credit 45 to 90 days to research and resolve

Back

Prohibited business

Front

Adult entertainment Drug businesses Marijuana business

Back

Under what circumstances are you required to file a standalone MICL?

Front

If cash is first deposited and if there is a lost of wizards systems.

Back

For what safeguards Exception reasons would place a reg cc hold on a check

Front

Back

What information must be given to a consumer if the request written information about a personal checking or savings account

Front

Consumer pricing information brochure Rate screen in person Or mailed within 10 business days if request is received over the phone

Back