Our loan department wants to offer a loan product that will pay a customer $50 if they open a new checking account with the bank when they get the loan. We would deposit this money into the new checking account. They want to require the customer to pay back the $50 if they close their checking account out within one year.
Is this possible? I don't think we can tie the 1 year before closing the account to the $50 because of Reg Q. I could use some advise. Thanks.

How about - open a checking account and get a loan and get $50. This eliminates the Reg Q problem - the payment is for the loan and not the checking account. Forget about the pay-back - it will cost you that much in tracking all these accounts.