09/29/2014
How important is it for a bank to get a properly executed Assignment of Deposit Account when securing a loan with a certificate of deposit or savings account? If there is a signed note and security agreement that includes language about the deposit account being taken as collateral does the bank have a perfected lien without an Assignment of Deposit Account? Or is this similar to a real estate secured loan where if you don't have a properly executed deed of trust regardless if the collateral property is listed in the note and security agreement you don't have a perfected lien? I am in the state of Tennessee.
11/25/2013
Is it ok to add a name to an existing account and change ownership or should the account be closed and new account be opened?
01/23/2012
In lieu of the risk-based pricing notice, we use the credit score exception notice. It automatically prints every time we pull a credit bureau report. I understand the purpose of the risk-based pricing is for lending, but we also use the credit bureau report to determine if we will open an account. Is it permissible to give this credit score notice with an AAN when denying deposit accounts?
11/29/2010
What is the difference between APR and APY?
09/06/2010
Does a lending institution have to give its commercial deposit holders any type of notice if and when the fees on deposit accounts change? Could you clarify if commercial accounts are exempt, and which Reg I should be reviewing for this?
03/08/2010
Due to the exposure risk, our bank's policy is to have ACH and remote deposit accounts approved by a loan officer. Is the exposure being approved considered an extension of credit for Reg O purposes?
04/21/2008
If an applicant meets our lending guidelines (credit, debt ratio, etc.) can we as the lender require the applicant to establish a depository relationship with our bank before we approve the loan request (for a mortgage and/or consumer loan)?
08/21/2006
One of our credit officers seems to recall that there was/is a floor on the interest rate that can be charged on loans secured by a deposit account, that is, no less than 100 basis points over the account's paying rate. Is there, was there, ever such a regulation?
11/01/2004
Question: Is there a difference between CIP programs for loan customers and for deposit customers?
11/01/2004
Question: What copies can or should we make of documents that were used to identify customers?