Our core processor can only display the collected or available balance on internet banking for our customers. We currently display the collected, but have had some customer complaints about not being able to view available balance. If we switch the balance to available, are there any considerations we should take into account before doing this? Regulatory or other wise? Thank you!
What does your available balance comprise? If it includes funds available to pay overdrafts either in the form of an overdraft line of credit, automatic covering transfers from another account of a consumer or an amount to be advanced by the bank (courtesy overdraft), you could have a problem complying with Regulation DD, Section 1030.11(c). https://www.bankersonline.com/regulations/12-1030-011
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John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
John, To answer your questions, it includes the overdraft line of credit, but not the other two you mentioned. Thank you so much for the point of reference. I really appreciate it. We have a bit more research to do.