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Courier Service for Depositors

06/04/2001

My bank is thinking about starting a courier service that would pick up deposits from customers at their homes or places of business. What compliance issues do we need to consider in starting up such a service?

Promotional Offer: Sign Up and (Maybe) Double Your Interest Rate

06/04/2001

Is it permissible for a National Bank to offer a time-deposit promotion where customers opening that time-deposit would be entered into a drawing with the winner receiving additional (double) interest on their deposit? I have referenced Title 12, Chapter 2, Sec. 25a of the U.S.C., however, I am having difficulty interpreting the Code's definition of a "lottery."

Compliance Online: Web Site Roadmaps

05/01/2001

Traveling this summer? We may have just the roadmap for you. We'll take you on a tour of OCC, FDIC, or the FRB web sites whenever you're ready.

Privacy & Joint Marketing: Specific Contract Language

02/05/2001

In order to use Exception 40.13 in the Privacy Reg, specific language has to be in the contract with the institution you will be joint marketing information. Is there specific language that is to be used in order to meet this?

Teaching Consumers Financial Skills

02/01/2001

CRA is all for it, and so is the OCC. The more customers know about managing their finances and using banks the better customers they will be.

Is Reimbursement Required?

01/15/2001

Concerning Reg Z and the TIL form, when we find that our bank has improperly disclosed the APR and Finance charge on a mortgage loan, how do we go about calculating the reimbursement? Does this always automatically trigger a reimbursement? I have tried to find info on it in the regulation but have not found anything to help.

Regulatory Agencies: What Changes?

01/01/2001

The heads of regulatory agencies set the pace for compliance examinations. The agency heads are political appointments. With a new President making appointments, what will change at the agencies?

Where oh Where?Is that Regulation?

12/01/2000

Sometimes it is easy finding a regulation. The examiner - or someone with a similar role in your life - places it directly under your nose.

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Most Popular Compliance Content

Check presentment, UCC, Mobile Banking, Check 21

02/18/2024

We have a business customer who had an employee negotiate their payroll checks a second time. This employee deposited their payroll checks through a mobile channel with their bank over a year ago and then deposited them again. They cleared our customers account because our duplicate detection only goes back a year. Our customer did not reconcile or review his accounts to notice the duplicate payments and wants to hold the bank responsible. They total about $11k. We already tried returning the checks for duplicate and as expected, they were returned for "Late Return". I am looking for any input as to how we can recoup the funds? The bank of first deposit (PNC) did take in stale dated checks as well as having their customer not adhere to mobile banking terms. Any input would be appreciated.

Correctly stating APYs over the phone

02/11/2024

When orally quoting a deposit rates over the phone, if the APY is 3.00%, does the the employee need to state the APY as 3.00% or can they say the APY as 3%? Likewise if the APY was 3.50% do they need to say the APY is 3.50% or can they say the APY is 3.5%?

Adding PODs on Joint Accounts

01/28/2024

When a customer has joint account and only one person on the account wants to add a beneficiary to the account, can this be done or must each accountholder agree?

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