01/11/2010
There is an exception in section 205.17(b)(4) to the new overdraft service opt-in requirement for ATM and one-time debit card transactions if a card issuing financial institution has a policy and practice of not authorizing and paying ATM or one-time debit card transactions that would overdraw a consumer's account at the time of the authorization request. Does that exception allow us to impose an OD fee on a consumer who has not opted in, if we authorized a transaction against a sufficient balance and by the time the transaction is presented for posting the funds have been depleted and the account is forced into overdraft?
01/04/2010
I am reviewing our compliance due to the recent reminder from FDIC via FIL-66-2009 regarding Disclosures at ATMs. Are we required to post notice on both the outside face of the physical ATM and on the screen? If so, must these notices also disclose the fee amount?
11/09/2009
We currently have e-statements available for our e-banking customers and will be adding e-bills. Any e-banking customers that have e-statement and a loan account within their profile, will be converted to an e-bill for these loans. We will continue to send both the e-bill and the paper bill for a two to three month time period. There is no way to have these customers agree or accept a revised agreement without shutting off all e-statements and have them agree again, which is not a good option from a customer service perspective. Will we be OK if we send an email communication to all e-banking customers of the pending change and have a message printed on the loan bills alerting customers to the pending change? e-statement customers agreed to receive all disclosures and statements electronically when they initially signed up for e-statements.
10/26/2009
Our signature card currently states, "The undersigned also acknowledge the receipt of a copy and agree to the terms of the following disclosure(s): Funds Availability, Truth in Savings, EFT, and Privacy." For certain products we require e-statements. We are considering modifying the signature card to include "e-statement agreement" as part of the list of disclosures they agree to and not require the customer to sign a separate e-statement agreement. Do you see any concerns with this?
10/26/2009
A hold was placed on a deposited check that the bank received by mail. The bank was unable to reach the customer by phone, but mailed the hold notification the same day. The customer contacted the bank by email a week later, upset that he wasn't notified at the time the hold was placed. He stated he received the notification three days after the deposit was made. Would it have been acceptable to notify the customer by email if the message was not detailed, but stated something to the effect "Please contact (bank employee) at (bank name) concerning a hold."?
10/05/2009
Does the E-SIGN Act allow disclosures to be provided to borrower's via fax? If so, is it considered to be "received the same day"?
09/21/2009
What information is required to be disclosed by regulation regarding products and rates in a web page?
09/21/2009
Are Reg E disclosures required when lost, stolen, or damaged debit cards are reissued to customers?
08/17/2009
Can you please tell me what charters/policies are required to be disclosed on our website? Also, does our Whistle Blower Policy need to be included on our website?
07/26/2009
Our bank has a new ATM and we would like to know what disclosures are necessary. Do we need a funds availability screen along with a sign on the ATM showing that funds will not be made available until the next business day if a deposit is made at the ATM after 2 PM?