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#1692898 - 04/26/12 04:31 PM Account Analysis
Anonymous
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Our bank has a business analyzed checking product which explains and discloses account analysis and calculations. Recently, I see that an individual in the operations department has been placing several customers into account analysis which of course has been charging them. I understand commercial accounts aren't subject to TISA, but we do give a TISA like disclosure called "specific account details" to our commercial account holders. Obviously the customers recently placed into account analysis never received the proper disclosure initially or subsequently. It seems inappropriate to me that we are charging account analysis fees and never notified the customer. I brought this up to the Ops person and they say since TISA doesn't apply, it doesn't matter. I did review our terms and conditions disclosure which does state that we will give written notice within a reasonable amount of time when changed are made to the account. I say we should refund the fees and send notice- obviously this is not a very popular opinion. Any thoughts?

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#1692908 - 04/26/12 04:47 PM Re: Account Analysis Anonymous
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 77,247
Galveston, TX
You have identified a breach of contract. What you do about it is really up to the bank at this time.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1693041 - 04/26/12 07:22 PM Re: Account Analysis Anonymous
Anonymous
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It would be required though to send a notice to the customer because it is actually stated we will in the account terms and conditions, correct?

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#1693045 - 04/26/12 07:25 PM Re: Account Analysis Anonymous
Jokerman Offline
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Joined: Nov 2003
Posts: 12,846
Originally Posted By: Anonymous
an individual in the operations department has been placing several customers into account analysis which of course has been charging them. I understand commercial accounts aren't subject to TISA, but we do give a TISA like disclosure called "specific account details" to our commercial account holders. Obviously the customers recently placed into account analysis never received the proper disclosure initially or subsequently.

Why are these things obvious?

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#1693117 - 04/26/12 08:20 PM Re: Account Analysis Anonymous
Anonymous
Unregistered

They are obvious to me I guess since I conducted the audit and can see they are being charged and when I asked if we had ever sent notification to the customer I was told no and that we didn't have to.

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#1693193 - 04/27/12 02:39 AM Re: Account Analysis Anonymous
Jokerman Offline
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Joined: Nov 2003
Posts: 12,846
Ok, I thought you meant it was self-evident, as in, of course they're being charged because they don't earn a credit or obviously they didn't receive the proper disclosures because our customer service reps don't know their elbow from their... or something like that.

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