07/12/2015
If we are listing OREO property for sale in the newspaper, must we include the FDIC or Equal Housing Lender information?
06/10/2013
FDIC insurance-husband has set up a revocable trust, he and his wife are co-ttee (co-trustees) and son is succ/ttee (successor trustee). How much is this account insured for? The wife has similar trust with names reversed and same son as suc/ttee?
05/06/2013
I had a customer ask if FDIC insurance coverage would apply to Cyber Crime loss of funds. Thoughts?
03/11/2013
For a CD account with two owners and three beneficiaries, would FDIC insurance apply only to the co-owners? Or would the FDIC insurance also apply to the beneficiaries as it does in a revocable trust?
01/28/2013
We have a customer who is POD on her fathers account, but she is telling us that she does not want the money. Is there a time limit on how long a POD account can sit out there even if we have contact with the POD? What recourse does the bank have on distributing the money to the appropriate POD? I know that FDIC insurance lapses 6 months after the death of the owner.
10/22/2012
Can there be two trusts with two separate EINs as owners on one account?
05/21/2012
Can the temporary unlimited coverage where all funds in non interest bearing transaction accounts are insured in full by the FDIC be located in an FDIC insurance tab on a Bank's website?
03/19/2012
What are the legal requirements for a bank to open a savings account for an individual customer? From what I understand, banks usually require (1) a signature card and (2) the following identity information: name, address, date of birth and identification number. I don't need any clarification on the identity requirements for Know Your Customer compliance. I am looking for more clarification on the requirements for the signature card. Is the signature card required by law to open a bank deposit account? If so, what is the law and what is the legal definition of a signature card (e.g. the required elements for a signature card)?
02/07/2011
The same customer has a non-interest bearing account and interest bearing accounts. Is the non interest bearing account included in his $250,000 FDIC limit or since insurance coverage is unlimited on these accounts would this be a separate category?
11/23/2009
Are we required to notify all depositors in a statement stuffer or by letter, of the recent TAG insurance extension to June 30, 2010? I understand that we need to update our lobby signage, website, and FDIC brochure with the new date of TAG and the extension of the $250,000 coverage to 12-31-2013, but do we have to notify customers like we would notify them of changes to their accounts?