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#522479 - 03/27/06 04:51 PM Executive Officer and deposit rates
Love those Regs Offline
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Joined: Apr 2002
Posts: 296
Southern State
I can not find anything in Reg O about banks being able to give executive officers a higher CD rate to match a competitors rate - if requested. Can anyone provide a cite to where this question is addressed?
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Deposits and Payments
#522480 - 03/27/06 05:03 PM Re: Executive Officer and deposit rates
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
There are restrictions on interest payments to insiders, but they are in the statute, not in the regulation. I'm sorry, but I don't have the citation.
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#522481 - 03/27/06 05:11 PM Re: Executive Officer and deposit rates
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
12 U.S.C. 376. Here is another THREAD discussing the topic.
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BankersOnline.com
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#522482 - 03/27/06 05:36 PM Re: Executive Officer and deposit rates
Love those Regs Offline
Gold Star
Joined: Apr 2002
Posts: 296
Southern State
Thanks to you both - I knew there was something but could not get my finger on it.... and I did a search but didn't put in the right words for it to pull the thread that Mr. Burnett found. Again, thanks to you both.
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