Would it be considered co-mingling of funds if a customer is making business related purchases on the personal account?
Our private banking area is requesting to add two higher balance tiers on an investment savings account. There is no regulation or rule that would hinder this correct? The only thing I can see is if we are not offering this to other bank customers, but only to these high end customers.
We have a “spin the wheel” promotion. To spin, a customer must donate $1 that the bank donates to a charity. All the prize amounts on the wheel are more than $1 therefore all customers will get more than they donate. The amount won is then sent to the customer via our e-wallet app. We set a certain number of spins and it is done on a first-come-first-served basis.
Will there be future Reg CC inflation adjustments? How often?
Is a checking account for an estate allowed to have an electronic draft debited from the account?
What is the proper identification for cashing checks or making deposits?
For account opening, my bank requires a separate application, signature card, and Uniform Single-Party or Multi-Party Account Selection Notice. Is there a regulation/law/code that requires all of these to match?
While auditing, I noticed POD selection and information missing from an application; however, the beneficiary has been named [properly] on the selection notice. Do I need to have the customer complete a new application?
We need more information about compliance when it comes to signature cards. We use add and remove forms for account owners, signers, and beneficiaries when the owner wants to make changes after opening their account rather than printing a whole new signature card that all account owners would have to re-sign. Are these compliant with FDIC requirements when it comes to
distinguishing what type of insurance coverage they would have?
Can a checking account be styled In Trust for a Revocable Trust?
We had a statement error due to an acquisition. Statements from the
old bank cut on 05/25 so the statement date was XX to 05/25. We sent a new
statement dated 05/29-05/31. The time between was the weekend plus a holiday. The customer was paid interest and EFT transactions posted on one of the two statements. The question is: Will what appears to be a gap of 3 days between statements, be a Reg E issue?