12/04/2022
We recently had a CD held by a Revocable Trust where the Grantor/Co-Trustee died. The other trustee came in and asked to redeem the CD early due to death. We waived the early redemption penalty due to death, but asked ourselves, is this a regulatory requirement or a courtesy, particularly in this case because a Trust doesn't "die".
11/13/2022
Are churches and other non-profit organizations allowed to open Certificate of Deposits?
09/18/2022
Can we place a hold on a check deposited into a savings account?
09/11/2022
Do we give out substitute check disclosures at new accounts?
01/06/2019
I have some questions regarding irrevocable burial trust accounts opened as Certificate of Deposits. Should the original CD be given to the account owner? Should the renewal notices go to the account owner or the funeral home?
09/30/2018
Best practice for closing and reopening IRA and or CD accounts in new beneficiary names due to death. Should we keep the same rate or give the current rate which is less?
05/13/2018
In Florida, when does a renewable (automatic rollover) CD become subject to the state's abandoned property escheatment requirements?
04/08/2018
We want to give a customer a fixed rate and a fixed term Repurchase Agreement (in place of a Certificate of Deposit) so that we can pledge government securities to the customer for these funds they deposit with us. I am looking for a template form to use to do this for the customer. We already have a Sweep Repurchase Agreement form that sweeps from a checking account to a Repurchase Agreement that is covered by securities pledged, but we want a fixed term and fixed rate form now also. If you have such a form or you know where I can get a form, please let me
know.
04/08/2018
We are changing our Certificate of Deposit from a single rate to a tiered rate. My question is, do we need to post all the various levels of each CD term on our lobby board?
For example, right now 12 month CD has a minimum deposit of $1,000 and the APR is 0.65 and the APY is 0.65. When we change, the 12 month CD will be $1,000 to $9,999, with the APR being 0.65 and the APY is 0.65, $10,000 to $24,999 , the APR is 0.70 and the APY is 0.70 and for $25,000 and above, the APR is 0.75 and the APY is 0.75.
Does the lobby board need to show that for each CD term?
01/14/2018
What is the maximum penalty that a bank can charge on a certificate of deposit?
