Term
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Definition
| protects individuals and corporations in their financial dealings. |
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Term
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Definition
an act tracking the flow of money from illegal sources
thru
CTR (Currency Transaction Reports)
requirement of notification for $10,000 or more to Financial Crimes
Enforcement Network (FINCen)
(SAR) Suspicious Activity Report |
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Term
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Definition
| the requirement of requesting I.D for accounts and loans to prevent/ deter terrorism. |
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Term
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Definition
| the policy prohibiting any bank worker to accept money from a customer. |
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Term
| (REGULATION B) THE EQUAL CREDIT OPPURTUNITY ACT |
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Definition
| the requirement to show no prohibition of service to any individual due to race, class, etc. |
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Term
| (FACT ACT) Fair and Accurate Transactions |
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Definition
the act dealing with the details and prevention of idenity theft.
compliance: report consumer concerns to The Compliance Department |
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Term
(REGULATION CC)
THE EXPEDITED FUNDS AVAILABILITY ACT |
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Definition
this act has guidelines on hold regulations.
our compliance: to have transparency on our hold guidelines and changes. |
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Term
| REGULATION DD (THE TRUTH IN SAVINGS ACT) |
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Definition
the act creating transparency on deposit rates and guidelines so competitor comparisons can be made.
compliance: visible brochures |
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Term
| REGULATION E (THE ELECTRONIC FUNDS TRANSFER ACT) |
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Definition
| the act requiring disclosure on electronic banking through our notifications, etc. |
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Term
| REGULATION P (PRIVACY OF CONSUMER FINANCIAL INFORMATION) |
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Definition
the regulation that enforces customer confidentiality.
compliance: shredding of paperworks, refusals to give out information, etc. |
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Term
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Definition
| money that is being flowed in a manner that disguises its origins (usually drugs or guns) and control. |
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Term
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Definition
the requirement to be watchful and attentive of customers
especially through rapport, behaviors, and transactions. |
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Term
| (SAR) SUSPICIOUS ACTIVITY REPORT |
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Definition
| a report from a financial institution to FinCen about suspicious or potentially suspicious activity. |
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Term
| CURRENCY TRANSACTION REPORTING |
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Definition
| reporting of all transactions of $10,000 or more. |
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Term
| WHAT IS CONFIDENTIAL INFORMATION? |
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Definition
Name
Address
Account Number
Pin
SSN
Account Balances
Investments
Debts
Account Statuses
Etc. |
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Term
| WAYS TO SAFEGUARD CUSTOMER INFORMATION |
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Definition
Lock file cabinets
Use passwords
Don't leave out confidential paperwork.
Report if keys are lost or stolen.
Use unobvious passwords.
Change passwords and access codes frequently.
Never write down passwords.
Never write down access codes. |
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Term
| HOW DO I IMPROVE MY CREDIT? |
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Definition
-- use less than 30% of your available credit.
-- don't max out your credit cards.
-- pay your bills on time.
-- pay off your credit cards each month in full if possible.
-- pay off your loans on time
-- do not apply for multiple loans and credit at the same time.
-- make a debt management plan.
-- keep a budget.
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Term
| WHY ARE CREDIT REPORTS SO IMPORTANT? |
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Definition
-- to get a loan for a house
-- to get and keep a job
-- to get a loan for a car
-- get insurance coverage
-- receive better rates on utilities and cell phones
-- to get a credit card |
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Term
| WHAT DO I NEED TO OPEN AN ACCOUNT? |
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Definition
-- I.D.
-- $25- $100 deposit
-- a utility bill/ birth certificate
-- a Social Security card/ ITIN#
-- Passport/ Consular I.D.
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Term
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Definition
| sympathy or putting oneself in another's shoes. |
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Term
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Definition
| seeing another's viewpoints/ ideas. |
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Term
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Definition
| sympathy moved to action. |
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Term
| WHAT ARE THE FIRST 2 POSITIONS AT BANK OF AMERICA? |
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Definition
-- Client Service Representative
-- Relationship Banker |
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