Our bank compliance officer left last fall for another job. I am in charge of our electronic sign and need to find out where there is a clear/concise source of information that guides us in what we have to disclose on the sign for interest rates, terms, etc.
We know that IOLTAs will now be covered under the Dodd-Frank Act's provision for unlimited coverage - but will IOLTAs be held to a minimum interest rate? (i.e. .25 or less?)
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?
Do we need to post a notice concerning the Dodd-Frank Reform Act Section 343 concerning FDIC coverage? Do we need to mail a disclosure to our depositors with NOW or IOLTA accounts concerning the standard maximum deposit insurance amount of $250,000?
We are a State Bank. Do our loan officers and assistants need to be registered in Texas? I'm getting conflicting information from different sources.
I have a question about what's required in a solicitation letter. We recently had a mailing to business prospects off a list we pulled from Google. The letter is a simple introduction about the bank and an offer to "Save up to $200 on checking account supplies when opening a NEW business checking account." Are there any compliance requirements with this type of solicitation? Please advice. Thanks.
We are not a HMDA reportable institution. Our bank was under FDIC receivorship. We were a State Chartered Bank, and we are now a National Bank. Since we are not required to report HMDA at this time, are we allowed to gather GMI on the initial 1003 for a real estate loan, or is this a violation of Reg B?
Is a bank required to have FDIC signs in each drive through lane or is one on the window enough?
Under the extended FDIC TLGP program, are IOLTA accounts restricted to an interest rate of twenty-five basis points or less? These accounts are addressed separately from other NOW accounts in all the material I have received.
We qualify loan applicants based on gross income. Our credit officer says that tax free income from SSI or VA Disability is the gross income and shouldn't be grossed up. I say the income is net and should be. Who's right? If we don't gross tax SSI up, are we discriminating?