If a Certificate of Deposit is purchased with one or more joint owners, do all the owners have to sign the CD or just the primary owner? Often CDs are purchased by a grandparent and they list their grandchildren as co-owners but those grandchildren live in different states. It makes it difficult to mail the CD out to all them to get signatures.
A certificate of deposit is under two persons' names and the primary holder is deceased. Is it within compliance to delete the deceased owner and just keep the secondary as the sole owner of the CD?
A customer dies and the executor of estate changes certificate of deposit to a CD titled: The Estate of Deceased Customer, then wants to cash in the CD before maturity. Can we charge an early withdrawal penalty? I know if the CD had still been in deceased's name and social we would not charge a penalty.
What is an "On Demand" certificate of deposit? How does this comply with Reg D?<!--<!--#include virtual="../ssi_lending_text_ad.html" -->-->
When a certificate of deposit with a term of over one year is renewing, are we required to send a renewal notice and all new account disclosures?<!--<!--#include virtual="../ssi_lending_text_ad.html" -->-->
We currently send out full new account disclosures with our certificate of deposit maturity notices. Is this required? If not, is a disclosure required at any point during the renewal process or are we just required to disclose changes in the term?
When a loan is secured by a certificate of deposit held by the same organization should all names listed on the certificate sign the assignment if the C or D states "or" instead of "and"?
When a customer has a certificate of deposit and interest is credited monthly to the certificate, is the bank required to impose a penalty to withdraw any of the paid interest during the term of the certificate?
Is it permissible to offer a Certificate of Deposit that pays interest to the customer "on demand" regardless of maturity date? Could this type of CD be offered without a penalty? When would this type of product cross the line of becoming a transaction type account on which we could not pay interest for Reg D?
Is it permissible to allow a customer to withdraw a portion of the principal amount of a Certificate of Deposit or change the term prior to the maturity date?