Posted July 21, 2016
Even as check volume continues to decrease, check fraud is growing. In fact, according to the 2013 Federal Reserve Payments Study, check fraud accounted for more than $1 billion. Detection and prevention are essential to curbing check fraud. Alert, well-trained employees and strong operational processes are your first and best line of defense.
On October 7, professional trainers with the WesPay Payments Association will conduct a 90-minute webinar – “How to Combat Check Fraud” – exclusively for Bankers’ Bank of the West customers. Participants will learn about the types of fraud taking place in the consumer and corporate check world, the preventive steps banks can take, and what kinds of tools can be used to fight check fraud. To request a course description and registration form, speak with any BBW operations specialist or email email@example.com.
Posted July 1, 2016
The next WesPay-led course in the 2016 special series for Bankers’ Bank of the West customers will thoroughly examine Same Day ACH. Subtopics include implementation guidance, staff and client education, potential agreement modifications, and operational obligations. This 90-minute session will be an essential foundation of knowledge for new hires and a valuable refresher for longtime employees. For information or to request a course list and registration form, speak with any BBW operations specialist or email firstname.lastname@example.org.
Posted April 28, 2016
Phase 1 implementation of the Same Day ACH Rules change will take place Sept. 23, 2016. From that point forward, any current day or stale day date in the effective entry date field of a credit entry will, in most cases, activate same-day processing.
A Same Day Entry Fee of 5.2 cents per such transaction will be charged to the originating depository financial institution and credited to the receiving depository financial institution. Given the potential impact of the new fee on banks with sizable sale-dated transaction volume, the Federal Reserve Bank suggests that all originating depository financial institutions assess how much stale-dated transaction volume they currently originate—and recommends that they work with their originators to remedy the situation before the Same Day Entry Fee goes into effect.
A March 14 Federal Reserve Financial Services memo, as well as other information on this topic, can be found at frbservices.org.
Registration and logistical details are available for the October 2016 two-day program known as Loan Officer Financial Management Training. The course has been sponsored annually since 2008 by Bankers’ Bank of the West to extend access to high-quality, job-specific education for community bankers in its service area.
The interactive, hands-on seminar focuses lenders on cultivating effective techniques, strategies and tools they can put to immediate use for the benefit of their bank as well as their commercial customers. The curriculum, with its emphasis on relationship-building, is geared toward experienced business loan officers with portfolio, underwriting, or calling responsibilities. Download the course brochure to learn more.