7. Reg D Monitoring

Activity – Member performs more than six electronic transactions on a non-transactional account which in turn is a violation of Regulation D.

Solution – Enhance the system in three ways including:

1.  Give the member a soft warning in online banking that they will violate Regulation D if the transaction is performed.

2.  Create a notice event and subsequent audit tracker to alleviate the credit union from having to call the member and also track the number of times the member went into violation.

3.  Develop an on demand report that counts the number of Reg D transactions to date for the month

Status Item #1 is in process with the project sheet #36555 and is waiting to be assigned to a programmer.  Items #2 and #3 are in discussion.  The next meeting is scheduled for June 12, 2015.

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