Are notices required on CDs when they compound? What Regs apply to it?
We are considering making e-statements available to our customers. What compliance issues do we need to be address?
We will soon reach a total asset size of $500 million. Are there any regulations or requirements that will be triggered by this threshold?
Can a bank pay more interest to one account holder than they do to another if they both have a NOW account? If so, what disclosures are required?
We have a check for $40,000 which is included in a $48,000 deposit dropped off at our drive-thru. The $40,000 check is written on a customer's account at another bank, but being deposited into his or her account with us. We called to verify funds and the funds were not available. Can we deposit the $8,000 and send the $40,000 check back to the customer in the mail the same day with a letter stating we will not accept it for deposit? What are the compliance issues for doing this? Please reference any regs.