12/22/2024
With high interest rates, we've seen a fluctuation in APYs on our CD products due to our rate sheet and advertisements being static, but the APY can differ depending on the opening amount and date opened, causing a discrepancy from what's posted. Is it sufficient to disclose that the APY is subject to change based on [X] factors?
09/23/2018
We have an upcoming deposit account fee change requiring advance notice to affected account holders. If we know we have a bad address (statements have been returned), are we required to mail the notice to the last known address?
05/01/2016
Management recently hired a consulting firm to assist in finding ways to improve profitability. One of their suggestions was to change the order for posting debits to deposit accounts, from smallest-to-largest to largest-to-smallest. Marketing wants to emphasize that we would be the good guys by assuring that the customer’s mortgage payment would be paid ahead of the check at the dry cleaners. Are there any specific regulations that state a specific method that financial institutions must use in posting debits?
04/24/2016
We want to place an advertisement in a community newspaper. The allotted space is quite small. Is it permissible to advertise only the highest interest payable on tier rated accounts?
04/10/2016
Do you see a problem with marketing and/or encouraging our customers to “opt-in” for overdraft protection?
08/16/2015
If you have a Certificate of Deposit (CD) with a term of 365 days and the customer wants the interest to be deposited into their checking account, will the CD still compound monthly?
09/23/2013
Do we have a Reg DD problem if we charge an account closing fee (assessed if account is closed within 30 days of opening) on an account we call "free" checking?
02/25/2013
I recently went to a seminar and during it they mentioned that we should issue a TISA and Reg CC disclosure to any potential customer inquiring about our accounts regardless if they open an account or not. Is it a violation if that is not done and they are only issued to customers opening accounts?
11/19/2012
I am under the impression that we should not allow savings account to be overdrawn?
03/19/2012
We are getting "push-back" from our statement printing vendor on the question of the correct format for the fee totals disclosure required by Section 1030.11(a) of Regulation DD. We are asking that internal grid lines and dollar signs be included, but our vendor is arguing that they're not required. Who is right, please?