Does Reg O govern the interest rates one can provide on deposit (DDA and SAV and CD) accounts? Other than related to overdrafts, does Reg O impact deposit accounts in any way?
Does Regulation O cover preferential treatment in board and executive compensation? Also, would preferential treatment surrounding vendor service agreements with the related interests of insiders be covered in Reg O?
How often should the Board of Directors be trained by the Compliance/CRA officer on CRA policy?
I see a lot of guru Q and A's regarding directors and overdrafts and overdraft fees. My bank's policy is to exempt all directors from our overdraft protection program, so that we don't have to worry about Reg O issues on that score, but my question has to do with a plain old ordinary non-sufficient funds fee. Is it a Reg O violation to refund an NSF fee?
Reg O Section 215.10 reads: Each executive officer or director of a member bank the shares of which are not publicly traded shall report annually to the board of directors of the member bank the outstanding amount of any credit that was extended to the executive officer or director and that is secured by shares of the member bank. Question: Must the insider's name be on the report, or is it sufficient to report "one insider has X amount secured by shares of the member bank"?
Does BSA/AML risk assessment have to be approved by the board?
In order to receive the CRA services credit, does the bank employee have to be a direct representative of the bank? Would it count if an employee is volunteering with tax preparation assistance through a non-profit organization?
Is there a regulation that forbids sweetheart deals on deposit products for insiders?
A big part of our IT Security budget is spent on GLBA compliance. Are we doing something wrong?
What position (head teller, loan officer, etc.) of the bank would be the best candidate for our BSA officer? Would it be our compliance officer?