Join us to review FDIC and other regulatory retention rules; E-Sign record requirements; email, social media, and mobile device record risks; and electronic record retention rules, policies, and best practices.
The practice of factoring dates back to ancient Rome, where citizens were known to sell promissory notes at a discount. Perhaps that’s how they financed the Coliseum.
Factoring is the “purchase” of a “client’s” accounts receivable, or invoices, at a discount. It is not a loan. As opposed to general bank lending, factoring is far less regulated business and factors charge whatever the market will bear.
In today’s credit-restricted market, the factoring business is booming. Factors often use independent agents to keep sales costs low and factoring has proven to be a recession-proof business.
Bankruptcy isn’t anything a creditor should fear! Bankruptcies have for a long time been the bane of both creditors and debtors, but there’s no reason that should be. A Chapter 7 bankruptcy can actually be beneficial to a creditor, both during and after the bankruptcy, and as respects current and future obligations or transactions with the filing debtor.
This session is a cost-effective way to minimize the negative impact bankruptcies can have on your business, while providing potential ways to actually turn a chapter 7 into a profitable event for your institution, and arm you with the knowledge it will take to navigate this complex area of law either yourself or with minimal legal help – helping you avoid costly legal fees and harmful write-downs of loans and obligations.
FinCEN developed a new electronic BSA Currency Transaction Report (CTR) that replaced FinCEN CTR Form 104. The new FinCEN CTR is mandatory and must be filed through FinCEN's BSA E-Filing System. The new CTR includes numerous additional data elements—it is quite different in style and approach than its predecessor.
In most commercial transactions, payment is accomplished through the use of a funds transfer. These transactions are subject to Article 4A of the Uniform Commercial Code, which has been adopted by all 50 states and governs the rights and obligations of all parties to the transfer. Article 4A is contract law, meaning once a business signs a contract they are generally bound to those terms. Too many businesses have suffered substantial losses because they did not understand the liability and obligations they are under when they signed the contract for funds transfer services. This webinar is developed specifically for businesses using, or that plan to use, commercial funds transfer services. The primer helps attendees understand how Article 4A affects transfers, provisions that can be altered by contract, how liability for unauthorized transfers is allocated, and more.