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Both banks and their regulators have been focusing on the issue of higher risk customers with differing points of view as to how to deal with them. There is no standard definition of what is “higher risk” but some business categories which typically fall into that classification are online gambling, tobacco products, casinos, etc. There seems to be guidance from some regulatory agencies that…

Post Categories: Blog

Recently, I listened to a head of treasury operations at a $10B bank tell a story about how she fixed delays in ACH underwriting. Traditionally, underwriting was conducted by credit department, which asked credit applicants the kinds of things a credit analyst would ask for. These included three years of financial statements describing revenue, net worth, liquidity, profitability, debt service coverage and debt/income.

Post Categories: Blog

Although the Operation Choke Point initiative came into effect over two years ago and the financial industry has taken many measures to respond, the high degree of uncertainty for banks, Third Party Payment Processors (TPPPs) and Third Party Senders (TPSs) continues to plague the industry as seen in recent headlines from CommerceWest Bank and Plaza Bank, with settlements totaling over $6 million. This atmosphere of uncertainty was apparent in a session titled “Payroll Processors & Operation Choke Point” at last week’s PAYMENTS 2015 Conference in New Orleans, where attendees expressed their challenges with the current environment.

Post Categories: Blog

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