Vendor Guru Q&A - Compliance

Latest Compliance - NOW Accounts Topics

Factors Used to Determine NOW Acct. Qualification

08/19/2018

In today's banking environment (post repeal of Reg Q in 2011), what factors are used to determine whether an interest bearing checking account qualifies as a NOW account?

Interest Bearing Checking Acct. for Cooperative?

04/15/2018

Can a Cooperative have an interest bearing checking account?

Eradicating NOW Accounts-Any Negatives/Cons?

04/08/2018

We're looking into eradicating NOW accounts. So far, there hasn't been any real negative discovered with making this change - other than some maintenance in the beginning. Is there something drastic we could be overlooking?

Info In Letter for Switch to Super NOW Accounts

11/22/2015

We will be sending letters to our customers with grandfathered NOW accounts informing them that accounts will be switched to Super NOW accounts, regular checking accounts, etc. What information is required in the letter we provide to the customer, and is there a timing issue?

Difference b/w NOW & Interest Bearing Business?

06/02/2014

What is the difference between a NOW account and an interest bearing business checking account and what entities can open a NOW account?

Can an Ambulance Association have a NOW Acct?

06/02/2014

Can an ambulance association have a NOW account. Is an ambulance association considered a public fund account?

Date Banks Allowed to Pay Interest on Personal

02/24/2014

When were banks allowed to pay interest on personal checking accounts? The date July 11, 2010: does that only refer to business checking?

Reg for Change on Who can have Now Account

09/10/2012

The change on who can have a NOW account (Businesses). When was the change and in what Reg is the change found?

Place Reg CC Hold on an IOLTA Account?

06/11/2012

Can you place a reg CC hold on an IOLTA account?

NOW Account Rules-7 Day Notice Interest Bearing

04/09/2012

In order to have a NOW account, does the account contract have to disclose the reservation of the right at any time to require not less than 7 days notice in writing before any withdrawal from an interest bearing account?

Latest Compliance - NOW Accounts Topics

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