In the state of Texas, when opening an account for a campaign fund, are we required to have a TIN or can we use a SSN?
How much "teeth" does UDAAP really have to penalize a bank?
What is the number of calls we can make to a debtor weekly?
If we have three DDA accounts securing the same loan, does the "single action rule" limit us to only using the funds from one account in the event of default? It is the funds in all 3 accounts that add up to enough to cover our loan proceeds.
If you do a preapproval/prequalification where you have five pieces of information (not the property location) and the customer is approved for an amount but the customer never comes back to the bank, what is the proper procedure?
Can we require a borrower to open a deposit account with our institution as a condition for approving their loan request?
We are developing a new business credit card product. Can we require businesses to open a checking account to be eligible for the card? The checking account will not be security for the credit card.
Can an automatic payment be set up for a loan from a checking account that does not have the name of the person who is on the loan on the checking account? In other words two separate people and two separate accounts. No common person between the two.
How important is it for a bank to get a properly executed Assignment of Deposit Account when securing a loan with a certificate of deposit or savings account? If there is a signed note and security agreement that includes language about the deposit account being taken as collateral does the bank have a perfected lien without an Assignment of Deposit Account? Or is this similar to a real estate secured loan where if you don't have a properly executed deed of trust regardless if the collateral property is listed in the note and security agreement you don't have a perfected lien? I am in the state of Tennessee.
Is it ok to add a name to an existing account and change ownership or should the account be closed and new account be opened?