08/20/2023
May a bank charge a dormant fee on a conservator account?
04/02/2023
Our bank charges a telephone transfer fee. This was a new fee added recently. According to Reg E Section 1005.7(b)(5), we must disclose any fees for EFTs or the right to make transfers. I wasn't sure if the fees described in Reg DD applied to this type of transfer fee. Would we need to disclose this fee 21 days prior to the change?
04/17/2022
I am reviewing a deposit ad for branch flyers. The Free Banking Service package includes an array of free services including free money orders, official checks, and stop payments. Should there be a disclosure as to how many and how often the customer can receive this benefit or does the statement to contact an employee for more information cover this?
10/10/2021
Our bank is now charging a $3 fee on paper statements in an effort to move everyone to online banking, where there would be no charge for the statement. Is this permissible by Reg?
05/02/2021
We are receiving a significant number of computer-generated, form letters from Cushion, a fintech in San Francisco, requesting refunds of fees (generally overdraft fees). In researching Cushion, I have found that a consumer pays an annual fee and provides the company with access to their bank accounts via online banking. Cushion then scans the customer's accounts looking for fees. If it finds any fees, it generates a letter requesting the fees be refunded, citing difficulties during the COVID pandemic. We are handling these requests according to our policy, but the volume of requests has significantly increased and we are receiving as many as 50 per day. I would like to know if other institutions have reported receiving these third-party refund requests from and how they are dealing with them. In addition, have you heard any thing about these types of services from the regulatory agencies' perspective.
12/20/2020
Can a bank require employees to have an account and services so that they can help customers with functionality? We do not require them to have their payroll deposited at our institution.
09/06/2020
In a webinar I attended earlier this year on Levies it stated, “Levy proceeds must not be reduced by any fee charged by the bank for processing the levy.” Would this rule apply to levies at the state level such as from the State Comptroller office or for Child Support?
06/16/2019
When increasing a fee to drill a safety deposit box, do all customers need to be notified ahead of time?
03/17/2019
On a down payment assistance 2nd mortgage, can a lender charge $40 application fee to the borrower?
02/25/2018
I have searched the site for information on advertising. I am a new compliance officer and need help. My bank is wanting to give money towards mortgage loan closing costs. I am not sure of how to check what is needed for advertisements and if there are any IRS requirements.