Money Compliance Updates

Funds Availability Policy- 2nd. Business Day Signage Now Available

If your Funds Availability Policy Disclosure is changing due to the FRB check processing consolidation, inform your customers with new "Second Business Day" Funds Availability Signage. The last line of text on both the Standard and Electronic Deposit signs has changed from "fifth" to "second" business day availability.

Countertop signs are ideal for display in teller areas, reception desks or on customer counters. Additional styles, colors and custom signs also available. Shop our full range of Funds Availability Signage

New Deposit Packaging Requirements for FedCash® Services

On November 16, 2009, the Federal Reserve Bank issued important information regarding new Standard Deposit Packaging Requirements for FedCash® Services. The New York region is the first region required to be compliant as of April 5, 2010. For more information on this new standard: http://www.frbservices.org/files/communications/pdf/fedcash/111609_deposit_packaging.pdf

Equal Housing Lender Sign for Savings and Loans—Compliance Deadline 9/17/09

On September 17, 2008, the Federal Reserve Board published in the Federal Register a technical amendment to Regulation B that updated the address for consumer questions regarding creditors that OTS supervises.

The Office of Thrift Supervision has updated its address in Appendix A, as follows:

Office of Thrift Supervision
Consumer Response Unit
1700 G Street, NW
Washington, DC 20552
The effective date of this amendment was October 17, 2008; however, compliance was optional until September 17, 2009, at which time creditors supervised by OTS are required to include the new address in their adverse action notices. Order your updated Equal Housing Lender sign from Block and Company today.

Credit Union Shared Branch Network Notice—Compliance Deadline 4/3/09

In accordance with the Final Rule published 3/4/09, Accuracy of Advertising and Notice of Insured Status (section 740.4), Credit Unions are required to display a new Shared Branch Network Notice sign in conjunction with the official NCUA sign. This rule went into effect April 3, 2009.

FMLA Poster Compliance Deadline 1/16/09

On December 18, 2008 the Federal Government released the new Family and Medical Leave Act (FMLA) poster based on revisions finalized in November 2008.The new law went into effect January 16, 2009. All businesses with more than 50 employees must comply. Order your updated poster from Block and Company and ensure your compliance. For more information on FMLA: www.dol.gov/esa/whd/fmla/

FDIC Temporary Liquidity Program

On November 16, 2008, the FDIC Board of Directors approved a final rule to strengthen the agency's Temporary Liquidity Guarantee Program (TLGP). The Program guarantees newly issued senior unsecured debt of banks, thrifts, and certain holding companies, and provides full coverage of non-interest bearing deposit transaction accounts. By law, FDIC insured financial institutions must display signage informing customers of TLGP participation status. Order your Temporary Liquidity Guarantee signage from Block and Company today. For more information on the Temporary Liquidity Guarantee Program: www.fdic.gov/regulations/resources/tlgp/

FDIC Temporary Deposit Insurance Increase

On October 3, 2008, the Emergency Economic Stabilization Act temporarily increased deposit insurance to at least $250,000 per depositor until December 31, 2009. On January 1, 2010, FDIC deposit insurance for all deposit accounts—except for certain retirement accounts—will return to at least $100,000 per depositor. Insurance coverage for certain retirement accounts, which include all IRA deposit accounts, was increased permanently to $250,000 per depositor in 2006. Block offers an economical signage solution for informing your customers of the temporary increase. For more information visit: http://www.fdic.gov/news/news/financial/2008/fil08102.html

NCUA Temporary Share Insurance Increase

The Emergency Economic Stabilization Act temporarily increased share insurance coverage provided by the NCUA through the National Credit Union Share Insurance Fund (NCUSIF). The NCUA Board also took action on October 3, 2008 to eliminate the concept of “qualified beneficiary” in determining NCUSIF share insurance coverage. Share insurance coverage of $250,000 became effective on October 3, 2008, and will remain in place through December 31, 2009. Credit unions should note this time limitation in their communications with members. NEW NCUA signage is now available from Block and Company. For more information, refer to NCUA’s October 2008 letter to Credit Unions: http://www.ncua.gov/letters/2008/CU/08-CU-22.pdf

New FDIC Equal Housing Lender Poster

On August 7, 2008, FDIC issued a Final Rule updating the name and address to which consumers may write concerning a fair housing complaint. All FDIC insured institutions must display new posters no later than August 7, 2009. New EHL posters are now available from Block and Company. Read the full Final Rule in the Federal Register: http://www.fdic.gov/regulations/laws/federalB8/08finalAD31.pdf