Most Popular Compliance Content
Can this Trustee Resign?
12/06/2004
I have a surviving spouse's trust agreement, where the living spouse no longer wants to be the trustee and would like to appoint her son, who is also successor trustee, to become sole Trustee. However in the trust agreement, it states that to amend or change, either trustor can change during the joint lives of the Trustors, by signed instuments delivered to the Trustee. Is this possible to change if one of the Trustors is deceased?
Minor as POD Beneficiary?
12/06/2004
Can a single owner of a checking or savings account have a minor as the beneficiary of a Payable on Death designation?
Setting up a memorial fund account
12/06/2004
What is the best way to open a memorial fund account for a customer? The memorial fund is for a person who was not a customer of the bank and the customer who wants to open the account is not related to the person that the fund is for. There will be only two people who have access to the account.
Timing of Insurance Disclosures
12/06/2004
Should the Federal Sale of Insurance Disclosure be given to customer at the time of application, or once the loan has been approved? What if the loan is declined?
Billboard ad info needed
12/06/2004
Concerning Reg. DD...I have an ad that features a X.XX% APY to be collected on a checking account balance. However, if the checking account balance exceeds $10,000 that APY drops to Y.YY%. Is it necessary to include this change in APY based on account balance in outdoor advertising such as billboards and banners? The advertiser argues that it is not necessary because it is not a 'minimum', however the compliance officer argues that it is required to list the requirements because Reg. DD part (c)(3) is not an exemption for billboards and banners. How should we proceed?