Regulatory Alerts2015-01-04
Added
Amendments to Proper Conduct of Banking Business Directive 435 Regarding Telephone Instructions
The Supervisor of Banks amends Proper Conduct of Banking Business Directive 435 to permit banking corporations to obtain customer approval for telephone instructions via their website without a physical signature, provided the customer confirms they had the opportunity to view the agreement. The directive also requires banking corporations to identify customers both when providing this approval and when giving the actual instructions. These amendments become effective on the date of publication.
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