Iowa Administrative Code › Agency 187 - Banking Division › Chapter 2 - Application Procedures › Rule 187-2.17 - Mobile Offices, Courier Services, and Convenience Offices

Current through Register Vol. 47, No. 3, July 24, 2024
(1)
Definitions.
"Bank-owned courier service"
means a service
				that has the sole purpose of serving specific customers with pick-up or
				delivery services for banking activities such as deposits, withdrawals, and
				loan transactions.
"Convenience office "
means a bank office at a
				fixed site that is open only at certain times or dates, such as at a nursing
				home, college orientation, or fair. The sole purpose of a convenience office is
				to serve the convenience of the bank's customers at specified special events or
				who may have limited mobility.
"Mobile office "
means a bank office that does
				not have a permanent site and functions out of a mobile banking unit that stops
				at predetermined locations to conduct banking activities.
(2)
Policy.
The board of
			 directors of a state bank that operates a mobile office, bank-owned courier
			 service, or convenience office shall adopt a policy governing operation of the
			 mobile office, bank-owned courier service or convenience office. The policy
			 shall be appropriate for the nature and scope of the state bank's use of the
			 mobile office, bank-owned courier service, or convenience office and shall, at
			 a minimum, include the following:
a. The
			 policy shall address the steps the bank will take to protect the security of
			 the office, its customers, employees, its customers' financial information and
			 deposits. The security plan may include implementation of customer and employee
			 security systems such as security cameras, external lighting, and internal or
			 attached protection zones.
b. The
			 policy shall require the bank to maintain deposit insurance coverage for the
			 mobile office, bank-owned courier service, or convenience office.
c. The policy shall require the bank to main
			 adequate insurance coverage covering the bank in case of robbery, accident,
			 other loss of items, delay in the delivery of items to other destinations, and
			 other liabilities associated with operating the office.
d. The policy shall address types of
			 activities the bank will conduct from the mobile office, bank-owned courier
			 service, or convenience office.
e.
			 The policy shall require a bank office manager or officer of the bank to be
			 physically present at the mobile office, bank-owned courier service, or
			 convenience office during a majority of its business hours as required by Iowa
			 Code section
			 524.1201.
f. The policy shall require the
			 bank to maintain a daily log of operations including descriptions of the time
			 and locations of each stop made by the mobile office or bank-owned courier
			 service, the locations and the hours a convenience office was operated and the
			 names of the bank personnel working at the mobile office, bank-owned courier
			 service, or convenience office during those times.
g. The policy shall address what, if any,
			 signage the bank will place on the mobile office, bank-owned courier service,
			 or convenience office.
h. For
			 mobile offices and bank-owned courier services, the policy shall address how
			 the bank will determine the locations at which it will provide services and the
			 times it will be at those locations. The policy shall address how the bank will
			 ensure that the mobile office, bank-owned courier service, or convenience
			 office is located in a safe location and that it has the necessary permission
			 of the owner of the property where the mobile office, bank-owned courier
			 service, or convenience office is located to operate at that
			 location.