We have looked at Reg DD but cannot find where it even mentions this.
Are we required to tie IRA rates (variable or fixed) to an outside index? I think that back in the 1980’s when they first became available, it was a
But I cannot find it mentioned anywhere now?
I am trying to find more information regarding the rate information on savings disclosures. The rates are listed as tiered rates, but if a customer receives a special rate other than what is listed, does the disclosure need changed every time to list the special rate? Or when the rates do change, does the disclosure need changed every time, even if the rates will change soon after again? Right now, the disclosure states, "The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily."
Offering Reg O Insider A Higher Rate on Deposit?
I have been instructed to lead a project around compliance ramifications if negative interest rates were to occur in the US. With regard to deposit accounts, would all TISA and other initial disclosures need to be updated to reflect this change. Since the change in terms would negatively affect our customers. This would be quite an undertaking as we have 10 member banks. Would all of our advertisements have to be re-disclosed? Any feedback is greatly appreciated.
We are trying to create an ARM loan and it will be on a 15-year note with rate changes every 5 years, basically changing twice. Is there a maximum ceiling rate/floor rate we can charge?
Are non-bank lending institutions subject to interest rate disclosure regulations for business loans?
On the Statement of Credit denial, termination, or change. Part I- Section- E. (other) What does this mean: "we do not grant credit to any applicant on the terms and conditions you have requested." Could you please give some examples?
Is there a limit (by regulation) on an interest rate that can be charged on a consumer loan that is fully secured with cash on deposit at the Bank? We have a $5,000 loan that is going to be secured by a $5,000 savings account held at the Bank. One of our Board Members thought there was a regulation stating the maximum that can be charged on this type of loan is 2% over the interest rate being earned on the deposit account.
We have an affiliate under our Bancorp that does 1031 Exchange Services. I want to do a risk assessment on this service but I am not sure what the risks are?
Is documentation required to lower the interest rate on an existing consumer loan not secured by RE?