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Bank Secrecy Act: The Rules for New Account Opening & Beneficial Ownership

The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury issued a final rule applicable on May 11, 2018 for new account openings. Financial institutions are required to identify and verify beneficial ownership for legal entity customers when opening new accounts.

The BankStuffers brochure, “The Rules for New Account Opening & Beneficial Ownership” explains in straight forward language to your business customers what is required of them to open a new account.

Check 21:
Safe Harbor Disclosure

Contains the "Safe Harbor" model language approved by the Federal Reserve Board for use in Check 21 disclosures to customers.

Imprinting of bank information in accordance with Federal guidelines is available for this brochure!

New Overdraft Rules
for Debit & ATM Cards

REG E Notifications.
Using language created by the Federal Reserve Board to help consumers make the best choices around overdraft services, helps you:
  • As a notification reminder
  • Provide background facts from a trusted source
  • Have appropriate content to give customers and new account holders.

USA Patriot Act

Use your USA Patriot Act customer notification requirement as an opportunity to:
  • Educate customers about the law’s requirements
  • Enlist their aid in the fight against terrorism
  • Show them how it protects them against Identity Theft.

Key message: Customer-bank cooperation can help in the nation’s fight against terrorism!

FFIEC Consumer Education

Account Authentication & Online Banking

“Account Authentication & Online Banking” reviewed by the FFIEC, educates retail customers, addressing the specific expectations cited in the Supervisory Guidance.

Includes: Explanation of multi-factor authentication…Value of layered security…Internal risk assessments by the bank…Possible additional verification procedures…Consumer protections under “Reg E”…Measures customers can take…How to report suspicions and concerns.

FFIEC Business Education

Risk Assessment & Layered Security for Online Business Transactions

“Risk Assessment & Layered Security for Online Business Transactions” reviewed by the FFIEC, educates business customers, covering the issues specifically identified by the Supervisory Guidance.

Includes: Assessment of the risks…Need for enhanced controls…Value of layered security…Recommendations for internal threat assessments…”Reg E” impacts…How to report suspicions and concerns.