When increasing a fee to drill a safety deposit box, do all customers need to be notified ahead of time?
On a down payment assistance 2nd mortgage, can a lender charge $40 application fee to the borrower?
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.
Is there a regulatory/legal preclusion for charging a customer (consumer or commercial) a return wire fee for domestic or international wires? If a preclusion exists, what law/regulation is applicable?
We have a customer who signed & opted into ODP when he first opened the account in September. After the 45-day qualification period, it was found that his account was eligible for ODP so we activated the ODP on his account. A teller at his branch, however, took a request from him to revoke ODP on his account in late November. This was not relayed to the appropriate staff and the change did not get made on his account. His TV bill, which is an authorized monthly payment, came through on his account as a POS debit while he was already a couple dollars negative. It should've been declined due to NSF and him previously revoking ODP. We've since made the appropriate changes on his account to revoke ODP on his account and we've reversed all the fees he shouldn't have been charged, but the customer is saying he is not going to pay for it, and that the bank is responsible for it.
My question is - is the bank responsible for it?
Can a bank order a credit report for a customer without an extension of credit or opening an account and collect from them the pass-through fee?
Our Retail Division is getting very creative in coming up with fees that we have not charged in the past. I understand that dormant/inactivity fees are defined at the State level and are allowed on accounts advertised as "free." Would the same hold true for debit card inactivity and/or online banking inactivity fees? Would these fees be allowed on "free" accounts if properly disclosed? I have the same question for return mail fees.
When can you collect an appraisal fee for a HELOC?
Can the fee on overdrafts for paid checks vs return checks differ? Such as $25 fee for paid OD's and $30 fee for return.
We currently offer two overdraft protection options - one is a transfer from a line of credit and the other is an auto transfer from a deposit account. In either case, we have a disclosed transfer fee of $5.00 per transfer which is charged to the checking account regardless of whether the funding account is the LOC or the deposit account. We would like to increase the fee on existing accounts. Because we charge the same fee (whether it is a LOC transfer or a deposit account transfer) to the checking account is it possible to increase the fee with a 30 day notice to customers like any other fee adjustment? We are also considering an annual fee for this service for both new and existing customers. The annual fee would be charged to the checking account and not to the LOC/funding account.