Most Popular Compliance Content
Using setoff at the teller window
06/07/2020
When a former customer who left owing us money shows up at the teller window to cash a check written to him by one of our account holders, can we seize the proceeds of the check to go toward what we’re owed?
Opt-in Requirements Under 1005.17(b)(1)
06/07/2020
The opt-in requirements under 1005.17(b)(1) state that a bank "shall not assess a fee or charge on a consumer's account for paying an ATM or one-time card transaction." Does the "one-time" term mean that we cannot charge a fee on the first transaction of two or more being paid and then we can charge a fee on the second when the consumer has not opted-in? For example, if a customer has not opted-in and an ATM causes an overdraft into the consumers account and then two EFTs are received and paid on the same day as the ATM for processing, can we charge or not an overdraft fee for any of the EFTs? On subsequent days, if the account is overdrawn by EFTs, can a fee for overdraft be charged?
Opt Out Requests for Postal Items/Telephone/Email
06/07/2020
We have a customer that wants to opt out of email/mail and telephone contact with us. In fact we have no telephone number on file to contact him. He doesn't want emails or letters. My question is, are we required to comply with requests for opt out to include postal items and email?
Add POA to Signature Card or Just in File?
06/07/2020
Does a POA need to be added to the signature card or just have the POA in the customer file?
Intermediate Bank
06/07/2020
We are an intermediate small bank for purposes of CRA. Is this program appropriate for us?