Regulatory Alerts2002-11-01
Retrieval of Data by Customers
The Supervisor of Banks mandates that banking corporations provide customers with automated data retrieval services, such as ATMs and internet access, to enable effective control over their accounts. Banks are required to ensure these services are available to all customers, operate without employee intervention, and provide daily updated information on assets and liabilities. Additionally, institutions must implement internal controls for data security and actively encourage customer usage through advertising and branch materials.
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