Who can sign a release of mortgage?
We have a request from an unincorporated association to add an authorized signer who has a charged-off consumer checking account with us. We would prefer to not accept this person. In addition to possible privacy concerns, what other issues might arise from this situation? (We do not CIP authorized signers.)
Our Executive Officers sign on accounts for churches and other types of accounts, but they are not owners of the accounts. Is this a Reg O violation to overdraw those accounts and do they have to be charged an overdraft fee?
When we have an existing client that is adding a power of attorney or trustee to an account, we pull a credit report on the individual. Our accounts have checkwriting, Visa card and margin loan access. If the individual does not meet the credit standards, can we tell the client this individual is being denied account access due to credit, or would this be disclosing information to a third party? The other problem is telling a client that the person they selected for trustee or POA cannot hold this position on their account. Many times this is a spouse or family member. How can we handle this situation?