Oral Requests: Do we state APR or APY?
12/03/2001
When responding to an oral request for loan cost information, is it permissible to state "APR" or must we use "annual percentage rate?"
12/03/2001
When responding to an oral request for loan cost information, is it permissible to state "APR" or must we use "annual percentage rate?"
11/05/2001
In regards to HMDA Reporting. If a loan is for the purpose of home improvement and the term of the loan is less than 24 months is the loan HMDA reportable? HMDA is based on the purpose of the loan, not the term?
10/01/2001
Our bank currently marks the demand feature on all loans. Also they do not mark "with assumed maturity of one year". I don't' feel that this is correct. Can you give me guidance as to the correct way?
10/01/2001
Do Internet banking transfers from a Money Market account to a transaction account count in the 6/3 rule?
10/01/2001
Under what Act or Regulation is it specified that each branch a "Notice of Availability of Financial and Other Information" must be displayed?
10/01/2001
Do you know where I could obtain a sample Fair Debt Collection Practices Act policy?
09/03/2001
I have a customer who comes and in wants to open a deposit account, but he has a criminal record for bogus checks or forgery. Do I have to open the account or can I deny them?
09/03/2001
Several years back, when we set up our overdraft protection program, the decision was made to not allow overdraft protection for interest bearing checking accounts. This was done before my time and, looking back, nobody can remember exactly WHY this was done. Now the question of whether there are any compliance issues involved has come to me and I am afraid I cannot think of any reason why we can't do this. Are you aware of any reason why we cannot have overdraft protection on an interest bearing account?
09/03/2001
In a recent article on flood insurance, you mentioned that Uncle Sam is tired of handing out disaster aid. In a discussion here at our bank, someone interpreted that to mean that you can only make one claim against flood insurance coverage. In re-reading the article, I am wondering if we are getting disaster aid confused with insurance coverage. It doesn't seem logical to me that you could insist that someone purchase flood insurance coverage if, in fact, they could never make a claim because therehad been a prior incident. Please clarify the meaning of that portion of the article.
09/03/2001
I understand that some vendors are offering software programs that will allow a customer to set their own privacy standards. In the event a Web site did not meet the set standards, the site would not open on the customer's PC. Is this an issue that will effect a bank's ability to offer products and services online?