Acquired Bank - Send Customer’s Fee Change Notice?
Answer by Randy Carey, BOL Guru Guru Bio
Question: When a bank is acquired by another bank and the deposit fees are changed, should a notice of fee changes be mailed to existing customers?
Answer: The acquiring bank takes on the accounts as is. In order to change the terms of the accounts, you will have to abide by any change of terms requirements found in the depositor's contracts, and abide by the change of terms notification requirements found in Regulation DD.
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