04/27/2015
We are converting all of our passbook savings accounts to statement savings. The disclosures originally provided to existing accounts did not differentiate between passbook and statement accounts. Are we required to provide a 30-day change in terms notice to customers whose passbook accounts will be converted?
01/05/2015
If a customer has 3 Reg D violations in a 12 month period, can the bank keep the account a savings account, but turn off the interest to make it non interest bearing?
05/26/2014
What happens if a bank sends two warning letters for excessive transactions of a savings account, Reg D, but the bank does not follow thru and allows the account to continue excessive transfers. (the account has a balance of $125K)
01/13/2014
The Treasury is promoting Eagle Cash cards for servicemembers. Their FAQs include an explanation that the transactions will be debited from the servicemember's checking or SAVINGS account. These are starting to show up on our excessive transaction reports. We are unable to contact most of these customers because they are deployed and they cannot easily resolve this anyway. Anything we do we will be criticized for...close the account for excessive transactions and we deny servicemembers access to their funds. Leave the accounts open and we are in violation of Reg. D. Is anyone else encountering this problem and if so, how are they handling it?
01/13/2014
The Treasury is promoting Eagle Cash cards for servicemembers. Their FAQs include an explanation that the transactions will be debited from the servicemember's checking or SAVINGS account. These are starting to show up on our excessive transaction reports. We are unable to contact most of these customers because they are deployed and they cannot easily resolve this anyway. Anything we do we will be criticized for...close the account for excessive transactions and we deny servicemembers access to their funds. Leave the accounts open and we are in violation of Reg. D. Is anyone else encountering this problem and if so, how are they handling it?
04/29/2013
Is there Reg E periodic statement requirement for retirement savings accounts where we set up a preauthorized debit from a customer's account at another institution to be deposited to a retirement savings account at our institution? If so, what is the requirement? These deposits are not payroll deposits but just periodic deposits (i.e. monthly deposits of a specified amount) to a retirement savings account.
04/15/2013
How long can you place a Hold on a Large Check Deposit made to a Savings account?
02/11/2013
Are saving accounts governed under Reg CC?
01/07/2013
How soon can a client open another savings after we close the current account due to Reg D violations?
06/25/2012
If we have closed a customer's savings account due to excessive transfers/withdrawals per Reg D, can we re-open the account later on, and if we can, is there a time period it must remain closed before it can be re-opened?