03/04/2013
I've noticed that almost all privacy statements are printed in black. Is it okay if our bank prints them in our bank's branded colors?
01/21/2013
Our bank has a lot of OREO properties that we are trying to sell. In an attempt to get these properties sold, we are creating flyers and putting them up around town. The flyer has a picture of the house for sale, a map of the location of the house, information about the house, and our company logo. There is one sentence on the entire flyer that states that the Bank may be able to offer special financing to qualified borrowers whether they purchase one of our properties as an owner occupant or multiple properties as an investor. We have included the equal housing lender logo on the flyer, but are debating about whether the FDIC logo needs to be included as well. I think it is possible that because we are not advertising a specific loan product (just loans in general) that we might need to include FDIC logo. What do you think?
01/07/2013
When you are calculating insurance coverage for the FDIC, is Money Market included?
12/17/2012
What is the retention schedule for stop payment orders? I think it might be different for ACH vs other? We are a state bank, regulated by FDIC. While we're at it, isn't there one good source for record retention. It seems there are so many different places to look?
12/03/2012
Can you open a savings account for a minor that is not titled as a UTMA account? The account will be set as a joint account with the parent, and the minor will not have signing authority until he/she reaches the age of 18.
12/03/2012
Does FDIC Insurance cover an authorized signer on a deposit account (for example: individual or joint checking account with one authorized signer).
10/29/2012
Finally, Something New in the Safe Deposit Box Area
by Dave McGuinn, BOL Guru
Guru Bio
10/01/2012
When opening a checking account with POD, is it required that the term "POD Account" print on the bank statement or is it sufficient that the signature card is marked and the POD designation with the name of the beneficiary is in the core related to the account? Can the Account just read "John Doe" or does it have to say "John Doe, POD Account"?
08/13/2012
Can a Proprietorship title their bank account in their business name using their EIN and not list the owner's name? The Assumed Name Cert. states the Business with be conducted as ABC Group.
08/06/2012
Our bank has numerous branches, a handful of insurance agencies, and also five office locations for non-deposit investment products. I am relatively new to the bank but not to compliance. In reviewing the bank's advertisements, there may periodically be an ad that talks about deposit products that are offered, "checking and savings accounts" and in addition may even mention "mortgages." In the same ad it may mention that we also offer insurance and investments. In the ad that refers to all these types of products, it will not state "Member FDIC" or "Equal Housing Lender" due to including the statement about insurance and investments. I am really having a hard time finding this acceptable even though one FDIC examiner has "OK'd" this type of combined ad in the past. Shouldn't the ad clearly segregate the bank's products and services from the non-deposit investments (with the required disclaimers) and insurance products? I have referred to Part 328 - Advertising of Membership of 12 U.S.C. 1818(a) etc., I just need to know if I am understanding the requirements correctly.