My bank continues to receive many different versions of Deposit Account Control Agreements from other lenders who are trying to perfect their security interest in deposit accounts at our bank.

I am trying to get an idea of whether creditors (and/or depository banks) are starting to use the ABA Model Deposit Account Control Agreement. If you are using the form (whether as the lender or depository bank), have you encountered any problems with using the Model Agreement? Was it necessary to get a license or permission from the ABA to use the Model Agreement?

This response will not answer your question.

I would never sign a "Deposit Account Control Agreement" for another bank with which we do not have any relationship (co-owned, sub, etc.). They do come with liability for the depository institution who signs. There is no law requiring you to sign. Tell the other lender that you will not sign and then quickly call the depositor and tell them you could handle their loan needs easier and faster than the other bank.