If a bank has a "core" deposit relationship with a customer and sends their uninsured deposits to CDARS in order to keep the relationship in house, are the CDARS deposits of that core depositor still considered "brokered" deposits?
Does FDIC Insurance cover an authorized signer on a deposit account (for example: individual or joint checking account with one authorized signer).
Can an Attorney-in-Fact change a Payable on Death beneficiary on an account if the Durable Power of Attorney document does not specifically speak to that? Part Two: If an account currently has a POD beneficiary designation in the account title and we are now retitling the account to Jane Customer by Joe Smith, Attorney-in-Fact, where does the POD designation go in the revised account title?
Cashing out cd's and typing up new ones is the best way to change from a joint account into a Trust Account. Do we give them the current rates we are offering or do we type up the cd to finish the remaining term at the rate they were actually getting?
We are discussing the new rule on interest bearing accounts. Any thoughts on the subject such as changing all NOW accounts to just interest bearing accounts or just creating a new account product for interesting bearing accounts?
Must we disclose certain information to the customer if we offer an interest bearing checking account for a Business (business for profit) starting July 21, 2011?
Is there any legal reason to require an individual to use their personal name on a sole proprietor account instead of the business name? I understand the mismatch issue with the IRS and the SSN, but it will not be an interest bearing account.
Will we be required to notify depositors about the new temporary unlimited deposit insurance coverage for non-interest-bearing transaction accounts?
Do we need to change anything on the bank sign stating that we participate in the Transaction Account Guarantee Program 12-31-10 to 12-31-12?
We have a political entity (527 PAC) that would like to put funds into a fully-FDIC-insured NOW account here in California. Our bank offers the NOW account, but I don't know if its restrictions prevent this type of entity from opening one.