If anyone has taken the Regulatory U tests, I don't understand this in the FDIC Insurance Basics test. It states:JOINT ACCOUNTS; A joint account is a deposit account that is owned by two or more people who share equal withdrawal rights, each of whom has personally signed a deposit account signature card.
EXCEPTION: (this is what I don't understand)The requirement that all joint owners sign the signature card does NOT apply to CD's deposit obligations evidenced by a negotiable instrument or any account maintained by an agent, nominee, guardian or conservator on behalf of multiple people.
Can anyone explaine this to me? Thanks

Negotiable CDs are like stock certificates - the owner has the CD and it represents the actual deposit and they can transfer it to anyone they want. The legal holder of the deposit at the time the bank closes will be determined by possession of the CD and not a signature card. They are vary rare these days.

Reg U - We were an OTS now OCC bank. Our customers originally signed FR G-3 forms. The OCC requires FR U-1 forms. Do we need to have customers sign new docs.

You need to visit with the OCC, but I doubt that any new forms need to be signed due to the transition, unless there is a renewal or refinance of the debt.