What are implications of charging a fee to cover expenses for sending lending documents to closing attorneys by Fed Ex?
If an executive officer has overdraft protection, under 12 CFR 215.4(e) the bank can cover overdrafts of more than $1,000 if we have a written, preauthorized plan. For amounts less than $1,000 do we need a written, preauthorized plan?
Recently I ran into the following situation regarding the 3 day Right of Recission: Borrower is a business, loan was to be secured with the business property and the owners residence was used more as an abundance of collateral (largely because we have always taken it on previous loans). Do I need to wait three days to dispurse because of taking the residence? Or because it is a business transaction the recission doesn't come into play here.
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.
A U.S. Small Business Administration (SBA) report recently named BB&T Corporation high on the list of who is doing the most Community Reinvestment Act lending to small businesses.