Robin, Have you asked CC for a report on their security. A company the size of CC should be able to provide you with SAS 70 type 2 report the expresses an independent third party opinion on the controls and safeguards that CC has in place. This would be stronger than references from three banks. However, having managed compliance and worked closely with regulators for decades, I understand your compliance officer's need for comfort. In my opinion relying other bank recommendations provides a false sense of security. Investigate CC and work with your compliance officer to draw your own conclusion. Be sure to gather and assemble the evidence to support it. David Hanick Certified Public Accountant DHanickCPA@gmail.com If you find my post helpful and it answers your question, please mark it as an accepted solution!
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