01/01/2004
Your depositor just walked up to your desk to tell you he got his statement yesterday in the mail, his checks were enclosed, and there are four checks in there that have been paid against his accou
02/17/2003
Customer has a checking account with Direct Deposit of monthly Social Security and has requested our $500 overdraft protection product.Can the minimum monthly payment be automatically deducted from the checking account even though it contains Social Security deposits?
12/02/2002
A customer has been appointed guardian for his mentally retarded brother. He wishes to open an account for the mentally disabled brother to deposit his SSI check and a check from an opportunity center. 1) Does there need to be a separate account for the SSI? 2) How should the title on be listed on the account, since the brother is not capable of writing checks? 3) What documentation other than the attorney's appointment of guardianship do we need for the account?
09/16/2002
Can a financial institution offset funds in one DDA acct with another DDA account containing a positive balance without notification to the customer? Overdraft account customer is a joint account of another account. The positive account receives a Social Security check direct deposited which provided the funds to offset the overdrafted account.
07/01/2002
Has a final decision been made regarding overdraft protection on accounts that receive direct deposit of Social Secuity checks? I have a letter from Kansas Bankers Surety Co. saying the court decisions would not be appealed, but this letter is not dated.
06/03/2002
Does the periodic statement exception <a href="http://www.bankersonline.com/regs/205/2059.html">205.9(c)(1)(i)</a> for passbook accounts apply to telephone banking transfers or to ATM activity on a passbook savings account? We are adding ATM access and Telephone banking and were wondering if the passbooks were exempt from the periodic statement requirement. If not, it would probably be easier for us to only offer these services with a statement savings account.
04/01/2002
by Mary Beth Guard, Esq.
LEVY OR ATTACHMENT? You Can Take This, But DON'T TOUCH THAT!
05/01/2000
The federal agencies writing the regulations to comply with the Gramm-Leach-Bliley Act of 1999 received more than 8,650 comment letters - some requesting changes, almost all asking for more time to
02/01/2000
The average mortgage rate in October, 1998 was 6.68% - a 30 year low. By June, 2000, the average rate is 8.40%, and appears steady, according to a study done by HSH Associates, Butler, NJ.
09/01/1999
The new Bank of America is the first coast-to-coast bank in the United States.