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#2026632 - 07/10/15 07:50 PM Paper Statement Fee
Midwest123 Offline
100 Club
Joined: Mar 2012
Posts: 120
We were curious if other banks are charging a "paper statement fee" and if so, what are you actually calling the fee?

We have listened to some webinars/seminars with contradicting statements regarding these types of fees and were wondering if any examiners have mentioned this at any recent exams?

Thanks in advance for your time!
Last edited by Midwest123; 07/10/15 08:11 PM. Reason: Removed the question regarding amount of fees
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#2026634 - 07/10/15 07:59 PM Re: Paper Statement Fee Midwest123
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,226
Galveston, TX
First:

§ 7.4002 National bank charges.

(a) Authority to impose charges and fees. A national bank may charge its customers non-interest charges and fees, including deposit account service charges.

(b) Considerations.

(1) All charges and fees should be arrived at by each bank on a competitive basis and not on the basis of any agreement, arrangement, undertaking, understanding, or discussion with other banks or their officers.

If you are not a National Bank, then you need to be cognizant of the other anti-trust laws concerning discussions about specific fees with other bankers, even on a blog or forum. You need to do blind market research. What someone charges on the other side of the country is not going to do you much good anyway.

With that said, I am much more in favor of granting a reduction in the monthly service charges on an account if the customer chooses to sign up for E-Statements. Since you are required by law in most cases to provide a written statement of account, I think assessing them a direct charge for meeting that regulatory obligation just doesn't sound quite as nice.
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#2026638 - 07/10/15 08:10 PM Re: Paper Statement Fee Midwest123
Midwest123 Offline
100 Club
Joined: Mar 2012
Posts: 120
I apologize. I did not realize that requirement! Thank you so much for siting that. We aren't a national bank but I will make sure to look more into it!

Thank you for your comments. We just weren't sure if there was a proper way to label the fee. I like your comment about reducing the monthly service charge if they choose e-statements. That makes a lot of sense.

Again thank you for your time!

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