My bank is in Texas. When an entity like an LLC is registered in a state other than where the bank is and wants to open deposit accounts and loans, should it be registered in our state or otherwise be "officially" registered here in some way? Does it make a difference if the owner lives in the bank's state?
We have a customer who passed away. The customer was the sole owner of two corporations. The first corporation is a real estate holding company. There is a loan and DDA to this entity. The loan payment is auto-debited from the DDA. There is a second DDA to the other entity, also a corporation, which is to the operating company. Can we continue to pull the payments from the DDA to keep the loan current until the estate is settled and the loan paid off?
On our old operating system we provided a TISA disclosure to our business customers when they opened a certificate of deposit (CD). Our new operating
system separates personal accounts from non-personal accounts and does not automatically produce this disclosure for a business customer. Only a CD
receipt is generated for non-personal. It lacks interest calculation and detailed penalty information. The two products function identically. By
providing our business customer with the TISA disclosure we are ensuring that they receive detailed interest calculation and penalty information. We
think it's important for them to receive this information to avoid UDAAP concerns.
Rather than reinventing the wheel, it seems simpler to give them a TISA disclosure. Do you see a problem with providing a TISA to our CD business
During account opening for a new business customer the branches verify that the required annual filings with the state are up to date. As new accounts are opened for existing business customers a CDD questionnaire is completed for each new account, however the branches are pushing back regarding verifying that annual state filings are up to date. I haven't been able to locate any guidance on whether this is a requirement or a recommended best practice. Can you please advise?
Where should we start when creating a tickler spreadsheet?
Benefits of categorizing financial document exceptions?
Does ROR apply to an Agriculture 1st Mortgage land purchase loan when taking a 2nd mortgage equity lien on the borrower's residence? Borrowers are not full-time farmers and the loan is made to them individually (not a corporation or "business").
What are the downsides of a “divide and conquer” approach to backlog scanning of loan files?