09/25/2006
We want to give customers a certificate for their first tank of gas when they finance a new auto with us. We'll pay up to $70 when they go to a gas station we have already made arrangements with. What reporting is necessary and how does this affect the APR we disclose?
08/14/2006
The bank has a Completely Free checking account and we have over 1,000 accounts with less than $100 which have not had any activity over 60 days. My question is, can these accounts be charged a fee? At this time we manually change these accounts from Completely Free to an account that charges a fee. The bank wants to flag the system to auto charge when not used in 60 days. We are getting conflicting feedback saying this is a service charge, but we think it is like a dormant charge.
06/12/2006
I am an assistant manager at an in-store branch. The bank compliance officer tells me I can't advertise our mortgage or auto rates without disclosing the APR. It was my understanding that this must be disclosed when actually PROCESSING a specific loan. I thought I had seen newspaper ads w/o the disclosed APR. He told me they were probably mortgage companies. Is he correct? Must we disclose the APR even in advertisements? If so, are there restrictions on HOW it is disclosed, such as spreading the fees over the life of the loan vs. using the first year only (which makes the APR higher)? Are there any fees that we can leave out of the APR?
03/13/2006
What are the disclosure requirements on Certificates of Deposit renewals under and over 12 months? I know we're required to do a new TIS disclosure for any term over 12 months, but what else is required? I know some banks send out monthly interest added back notices. Is this necessary if you are sending them a maturity notice 10 days before maturity with renewal dates, amount, and that the interest rate has not yet been calculated? They are advised in a letter to call or come into the bank for current rate at maturity. Anyway, I guess my question is: Is the maturity letter for an auto renewable CD the only required information needed to meet TIS rules?
01/23/2006
What recourse, if any, does a customer have when he purchases an item that was fraudulently represented to him with a cashier's check? Our customer purchased a vehicle and paid with a cashier’s check. However, when the customer received the title it was discovered that the auto had been involved in an accident and he was obtaining a salvage title. This information was never revealed to the customer. The customer does not want the vehicle as he feels it was misrepresented to him. He is now demanding that the bank place a “Stop Payment” on the cashier’s check. We have told him that we would not be able to agree to his request. Are there alternatives?
11/14/2005
09/12/2005
04/01/2005
OTHER SECURITY RESPONSIBILITIES
10/04/2004
The bank has a Completely Free checking account and we have over 1,000 accounts with less than $100 which have not had any activity over 60 days. My question is, can these accounts be charged a fee? At this time we manually change these accounts from Completely Free to an account that charges a fee. The bank is wanting to flag the system to auto charge when not used in 60 days. We are getting conflicting feedback saying this is a service charge, but we think it is like a dormant charge.
10/01/2004
With the blessing and some guidance from the Federal Deposit Insurance Corporation, banks across areas affected by the recent severe weather and related flooding have come up with a number of ways