08/06/2023
Can we still charge a fee for excess money market transactions even though Federal Reserve eliminated the 6 per month transaction limit?
01/01/2023
Were there any new developments affecting ACH operations?
12/25/2022
What changes are coming for payments processing?
12/18/2022
When will FinCEN raise the threshold for CTR reporting?
12/11/2022
Have there been any significant BSA/AML penalties imposed on banks?
12/04/2022
What’s the latest word on overdrafts and overdraft fees?
12/26/2021
Is there a time frame as to when we should collect for processing a levy? Is it best to collect the fee when the bank receives notice of the levy or should the bank collect the fee after the 21 day period?
05/02/2021
Are financial institutions permitted to charge 'return deposit item fees' on Interest Bearing Real Estate Trust Accounts?
12/01/2019
We are currently in the process of changing our fees. Some fees may increase and some fees may decrease. With that said do we still need to
send a notice to customers 45 days in advance of the changes?
12/09/2018
My bank has a 30 day waiting and vetting period prior to us granting overdraft service. We do not have overdraft services that come with the account but rather it is our practice to offer an OPT-IN to Standard (payment of checks, ACH.) and then we offer another opt-in to Extended Service which allows the payment of ATM and one-time POS into overdraft under Regulation E. In this example, the customer opted in to both Standard and Extended Service. Customer received the Regulation E confirmation notice.
Without waiting the 30 days initially disclosed, my bank immediately paid into overdraft ATM and Debit card charges and fees but returned the checks that came through as insufficient. Once the 30 day vetting period for this customer had expired, they denied the customer for overdraft service but continued to allow only Extended service, ATM and One-time debit payments and
charges to go through. It is my understanding that the Extended Service under Regulation E is pursuant to the overdraft program offering and not to be used as a stand alone service outside the overdraft program. If we rejected the customer for our overdraft service, shouldn't that include all transactions?