We have a customer who wants us to comply with the Servicemembers Civil Relief Act. I understand we have to drop the interest rate on the loan to 6% when called to active duty. They have sent us a copy of their orders but, from what I can tell they are just a change of duty order. They are enlisted in the Navy, and they feel we should make the rate retroactive to the date they entered the service, are they correct?
Is there a more current chart of Lobby Notice Requirements than the one dated 12/2000?
We have a customer that changes his address at least once a month, and he did it twice in one month this past time. What do you think he might be up to? Frequent address change requests are suspicious, but what do you think he could be trying to accomplish or hide?
Community Development activities are critical to Intermediate-small Bank performance evaluations. Are there any geographies other than low- or moderate-income tracts in which a bank can finance activities that stabilize or revitalize an area and which would qualify as community development for CRA?
I recently ran into a situation where my bank called the bank that issues my payroll checks to find out if my payroll check had cleared so my bank could release the hold on my account. The issuing bank told them that they can not give out that information due to the regulations set forth in the Privacy Act. Are financial institutions prevented from verifying if a check has cleared or from performing merchant check verification?