09/16/2002
We want to offer a student account for college students. If we advertise in our pamphlet that we will pay any checks that take them a hundred dollars in the negative can we also advertise the overdraft fee is 20.00? Once they surpass a hundred dollars we would not pay the check but would only charge them 15.00.
08/05/2002
We have an executive officer that participated in an employee benefit computer loan (0% interst, $1,500). Do we need current financials, board approval, call provision for something this trivial? How about a line of credit for a checking account? Still needing all the red tape?
07/01/2002
When we turn a deposit account in for collection (due to overdrafts, etc.) we are charged a $10 fee. Can we pass this fee along to the customer? What if we make some sort of statement regarding collection charges on our Truth in Savings account disclosure? Bookkeeping would like to charge the customer $20 ($10 for the fees we pay and $10 for our troubles). Can we do this?
05/06/2002
I have read the article by Mary Beth Guard on <a href="http://www.bankersonline.com/operations/cissoffsets.html">"Offsets Against Social Security Payments"</a>. At the end she asked two important questions, which have triggered questions I have. 1) Aren't Overdraft privileges and outstanding overdraft fees, extensions of credit? and therefore, 2) What about Reg B a) cannot discriminate on basis of Age (over 62), most SS recipients are over 62; and b) part or all of income derives from public assistance (both SS and SSI are public assistance)? Can you clarify these issues?
12/03/2001
Is it allowable to xerox a person's driver's license photo? Some tellers were doing this for non-customers cashing checks at our bank, but another employee says we cannot do that.
08/27/2001
08/06/2001
Are there any laws/regulations that you can't open a deposit account for a minor (under the age of 18)? If we can, can the minor be the only person on the account or do we need a parent/guardian on the account?
03/05/2001
Please give some feedback on the following: Would regulators find this a violation to Reg. D? For very good business customers, a bank wants to have a savings account and a zero balance checking account. Monday through Thursday, all checks that pay on the checking account create an approved overdraft. On Friday night enough money is transferred from the savings to cover the overdraft. End result is checking starts out the week at zero and funds are only swept from savings once per week or four (maximum five) times per month, within the reg. D limit.
07/01/1998
Question: How should we treat a check that was returned for a missing endorsement when the customer brings it back to the bank properly endorsed?