FFIEC has also released a revised information security booklet. Plus, the latest Legal Briefs and your compliance question of the week.
Most financial institutions have plans in place to deal with the end of Microsoft’s support for Windows XP on April 9. But thousands of members will still be accessing online banking and other services with suddenly vulnerable machines, and that could have serious consequences. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “In a Uniform Transfer to Minor Account (UTMA), when can the minor have access to the funds? At age 18, 21 or 25?”
In a Uniform Transfers to Minors Account (UTMA), when does the minor get access to the funds? At 18? 21? 25?
Can a credit union allow a mother acting as representative payee for her sonâ€™s SSI checks to deposit them into a UTMA account, if she is not the custodian on the account?