Account Statement Requirements for Commercial Accounts
05/07/2001
Is there any requirement to mail bank statements to commercial accounts? The requirements under Regulation E and Truth in Savings deal with consumers only.
Mary Beth Guard is one of the four co-founders of BankersOnline and is now Editor Emeritus, after more than 16 years of serving as Executive Editor. She was instrumental in the creation and expansion of BankersOnline, as well as the launch more than a decade ago of BOL Conferences, Inc. and its continued operation and growth. Mary Beth is also the director of BankCompliance.com, the subscription-based compliance service now being offered online. Also, Mary Beth serves as CEO of Glia Group, Inc., which produces BOL Learning Connect. For nearly four decades, Mary Beth has utilized her background as an attorney to focus on banking industry issues, first as general counsel for the Oklahoma State Banking Department, then as general counsel for the Oklahoma Bankers Association, prior to her work with BankersOnline.
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05/07/2001
Is there any requirement to mail bank statements to commercial accounts? The requirements under Regulation E and Truth in Savings deal with consumers only.
05/07/2001
On variable rate business and commercial loans are we required to send notification each time the rate changes if the loan documents specify that the rate may change and the index to which it is linked?
05/07/2001
If a loan is secured with a mobile home NOT attached to real estate, is a flood determination needed?
05/07/2001
We have an elderly man who has contacted us about a loan. When he first came in "to see" if he could get the loan, the lending officer wrote at the top of the application that he would be coming back in 'if he remembered'. In the meantime, his daughter called and said that he was not mentally fit and requested that we not lend him any money. When he came in the next time, his mind seemed pretty clear this time. His payment history is good with us, and he could afford a small payment. Can we refuse the request due to the daughter's request and his mental capacity from the first visit, with violating Fair Lending? I told our lenders to be careful, we are not doctors to determine his mental ability and also would his daughter be willing for us to check on the denial "Information received from another source" if we did refuse him.
05/07/2001
If our Web server goes down and our customers are unable to access their accounts through our online banking, can we be liable to the customers?
05/07/2001
Do you think it's realistic for a bank to expect customers to make the bank's Web site their starting page?
05/07/2001
Looking for online customer service tips.
05/07/2001
Are we required to include the cost of hazard insurance on GFE's and HUD1's? Does it matter that we do not require insurance payments? to be escrowed?
05/07/2001
Can banks refuse to make loans to foreign persons (resident aliens, nonresident aliens, etc.)?
05/07/2001
I am being quizzed about recent legislation concerning Reg. Q. Our corporate relations dept. believes that the house/senate may have already passed the legislation to repeal the ban on interest on business checking. Everything I am finding is old. Is there something new or someplace for me to look for info?