Are there any regs that prohibit a bank from requiring a checking account in granting a loan (consumer or business)?
There are many new sofware products being offered today to assist in 'verfifying' the identity of new and/or existing bank customers (per proposed rules of the USA Patriot Act). These software packages search a number of various databases to get background and other 'verification' data. Some of the data bases that are 'searched' appear to be readily accessible general public record data bases, but others appear to be data bases that are not so accesssible by the general public. Is it permissible to have a customer sign a form which essentially says that the customer agrees that the bank can search for information to verify the customer's identity without specifically identifying the data bases being searched?
We would like to place link to Nada (blue book) and a link to Equifax on our home page. Are there compliance issues or regs that prohibit us from doing this? We are a commercial bank located in New York State regulated by the OCC.
In regard to the proposed CIP rules, how do we handle an existing customer who refuses to provide photo ID when opening a new account? We know the customer because we have dealt with him/her for years.
Is it within compliance regs to put a hold on an out of state check on new customer?
We are having a debate over interest bearing checking accounts to certain business customers. What are the businesses, if any that you can pay this type of interest to??
When does an Agency (HUD) safe harbor override the basic legality of another Agency's (FTC) regulations. With respect to the proposed RESPA regs, HUD is apparently saying that it is OK to loss lead (underprice one service below the cost of production and recoup with a higher margin service) or pricefix (in connection with other service providers) in order to develop a GMPA (Guaranteed Mortgage Package Agreement)?
We are looking into a relationship with a broker to finance mobile homes, what are the rules for compliance for these consumer transaction? Does RESPA apply?
Where in the regs do you go to find more information on dormant accounts? Example: can you close a dormant or inactive account with a very small balance, and what fees can you charge on a dormant or inactive account?
I need a complete copy of what Reg H says, is there a Web site that will give me details of each regulation or some other place I can look?