Latest Compliance - Certificate of Deposit Topics

Disclosures-CD to Purchase Vacation Home

12/06/2015

I have a borrower who is using a CD as security for a loan to purchase a vacation home. What if any disclosures are needed?

Certificate of Deposit for Multi-Party Accounts

04/06/2015

For Certificates of Deposit that are multi-party accounts, are we required to get the original signature of all parties at the onset of the account? Or is this a best practice consideration? I'm not concerned w/ the closing of the account, only at opening.

Strengthen Penalties On CD Maturities: Time Frame

03/02/2015

We are looking to change (strengthen) the penalties on CD maturities - what type or time frame of notice do we have to provide for those changes going forward?

Periodic Statement for Transfer of Interest COD

01/19/2015

Is it necessary to provide a customer with a periodic statement for a monthly transfer of interest from a certificate of deposit to one of their accounts at another financial institution?

TISA Disclosures Required for CD Automatic Renews

02/03/2014

If we have a CD that automatically renews and the term is longer than one year, do we need to send the customer a new certificate and TISA disclosures?

Certificate of Deposit from other Banks-Collateral

08/06/2012

A customer wants to pledge Certificates of Deposits from other banks as collateral for a loan at our bank. Where do I find forms and what are disclosures? $100,000 10years monthly payments set up like a mortgage payment.

Disclosures to Open a Certificate of Deposit Acct.

03/26/2012

What disclosures are required to open a certificate of deposit account?

Fed Box Disclosure for Consumer Loan Secured by CD

03/21/2011

On a consumer loan secured by a certificate of deposit, is it required for the "Required Deposit" box to be checked in the Fed box disclosures?

Signatures on Joint CDs

02/28/2011

If a Certificate of Deposit is purchased with one or more joint owners, do all the owners have to sign the CD or just the primary owner? Often CDs are purchased by a grandparent and they list their grandchildren as co-owners but those grandchildren live in different states. It makes it difficult to mail the CD out to all them to get signatures.

Deleting a Deceased Joint Owner

12/13/2010

A certificate of deposit is under two persons' names and the primary holder is deceased. Is it within compliance to delete the deceased owner and just keep the secondary as the sole owner of the CD?

Vendor Guru Q&A's - Compliance

Compliance tiers for Dodd-Frank Section 1071

Data privacy & Section 1071

Batch processing vs. transaction level processing for deposits automation

Section 1071

Exception management and better audits

Resolving credit and loan document exceptions

Proactive loan exception management

Tracking loan policy exceptions

Reasons for loan policy exceptions

Audits and document management

Who Gets the Adverse Action Notice?

02/16/2025

Our denial of a business deposit account application was based on the qualifile score of the individual applying for the business. Who gets the Adverse Action Notice?

Who’s Who at the Helm?

02/16/2025

Who’s Who at the Helm of Federal Banking Regulatory Agencies?

Redirecting an ACH credit for a closed account

02/09/2025

Can an ACH payment coming through on a closed account be posted to an account on which the owner of the closed account is only an authorized signer? The ACH is in the name of the authorized signer of the account the bank manually posted the account to.

Who signs on an account for an irrevocable trust?

02/09/2025

Does the grantor play any role in an irrevocable trust? We have a copy of the trust which states who the grantor is and who the trustee is. We didn't think the grantor had to be on the account, only the trustee. Please advise.

Should Compliance Change in Response to the New Administration?

02/09/2025

by Barbara Boccia:

Latest Compliance - Certificate of Deposit Topics

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