Most Popular Operations Content
Minor on JTWROS Account
11/05/2007
Can a minor be on an account as a joint tenant with rights of survivorship?
Rate Sheets
10/29/2007
We have rate sheets in our branches that list various CDs and deposit accounts that list rate and APR. Generally these are used internally for our staff to know the various rates. However we have gotten into the habit of 'displaying' these on the counters where customers could pick up and take if they wished. The layout is similar to our lobby rate board. Are these considered advertisment and require all the various disclosures?
Gift Cards for Loans
10/29/2007
One of our mortgage loan officers wants to do a mailing to potential loan customers offering a $100 gift card to use at local retailers. What issues come into play with this?
Bonuses on an Account
10/29/2007
Our Marketing department would like to have a promotion in which certain new deposit accounts are given free movie tickets if they mention seeing the ad. I know that if it's for a demand deposit account, we'll have to stay within the dollar amounts set by 217.101. Marketing would like to see this as an on-going thing. Mail these customers free movie tickets periodically (as often as allowable) while the account is open.My question is in regard to (a)(1) of 217.101. I know we can do it at account opening, but I'm reading that for the periodic bonuses to go out that there must be a renewal or at least an addition to the account. I'm not familiar with the concept of a demand deposit account renewing. What would qualify under those categories? Also, how would this situation change if we were talking about non-demand accounts?
Cashing On-us Checks for Non-customers
10/29/2007
Are there any regulations regarding a financial institution's cashing of "on-us" checks for non-customers? Any limits on the fee that can be associated with that service? What is a typical fee for such a service?