Skip to content
BOL Conferences
Thread Options
#1683267 - 03/28/12 06:30 PM Adding Authorized Signer
Tater Offline
Platinum Poster
Joined: Jan 2006
Posts: 642
Missouri
I'm having a MAJOR brain freeze today and need some help.

Customer A walks in and opens an individual account. We verify his history, etc, and there are no issues.

During the process of opening account, Customer indicates he will return later to add his fiancee to the account. CSR asks good questions and discovers fiancee is a deadbeat with charge offs, bankruptcy, and losses to the bank in her history.

We've established that we don't have to add the fiancee to the account as owner due to her past but what about as an authorized signer? Is it permissible to not have ANY relationship with her, even as A/S? Or are we duty bound to add her? Or is this a state law issue?
_________________________
Born once? Die twice.
Born twice? DIE ONCE!

Loan Review, HMDA, ALLL

Opinions are my own and do not reflect any others

Return to Top
Deposits and Payments
#1684562 - 03/31/12 08:43 PM Re: Adding Authorized Signer Tater
BrendaC Offline
Power Poster
BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
I've never seen such a requirement in state law, but I've never looked for one either. Search your statutes. Hopefully, there will be no such requirement. As a general rule, you are not REQUIRED to bank anyone you do not wish to bank.
_________________________
Life without Jesus is like an unsharpened pencil - it has no point.

Return to Top
#1684564 - 03/31/12 08:45 PM Re: Adding Authorized Signer Tater
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
I can guarantee there is no such requirement in any of the 50 States. THe bank can choose or choose not to do business with whomever they choose. I would not even think of adding an authorized signer to an individual account, unless they presented a power of attorney.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#1684570 - 04/01/12 10:34 AM Re: Adding Authorized Signer Tater
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
The issue here is not about your right to say "No," it's about how you're going to say "No" and who is going to be present when you explain why. (Accepting her as an authorized signer, not an owner, means simply that you think one form of poison tastes better than the other.)

While it could be the favor of a lifetime if you were to let him know that his intended is a deadbeat, it doesn't really fit in your job responsibilities. Hopefully, you will run her through a third party service at the time of her application, they will tell you what you already know, and you can hand her the appropriate notice. If not, you're going to have to do it the hard way based on information from your records and make certain she's the only one who hears what you're going to say.
_________________________
In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

Return to Top

Moderator:  John Burnett