02/02/2009
When a customer opens a new checking account with direct deposit the bank will pay $50 to a specific charity and $.05 to the charity each time the check card is used. The customer never receives the money. Are these charitable contributions considered a bonus for the advertising rules of Reg DD?
01/19/2009
We have a customer who receives SSI benefits and is overdrawn a significant amount due to a returned item. Do we have the right to take the SSI direct deposit and apply it to the overdraft or is the customer entitled to the complete benefit?
04/28/2008
The Treasury Department VA Administration has debited our account for a reclamation of a VA direct deposit. A branch allowed a survivor to withdraw the funds prior to us receiving the reclamation notice. Do we have any recourse to obtain the funds paid to the survivor?
02/04/2008
We would like to run a promotion by offering our customers $25 to open a non-interest bearing account and another $25 if they sign up for direct deposit which totals to $50. Can we run this promotion without triggering any of the regulations?
05/28/2007
One of our customers with an individual account and no authorized signers is having his girlfriend's payroll direct deposited into his account. How do we monitor this to keep it from happening on other accounts? Also, how should we handle any more of her deposits into this account?
01/02/2007
The monthly service charges for all of our consumer deposit accounts can be waived with direct deposit or a minimum account balance. We have an advertisement stating these accounts are free. The stipulations about needing to have direct deposit or certain balances is in fine print at the bottom of the ad. I say this is a violation of Reg DD, am I correct?
12/11/2006
We've recently added a new checking account to our list. It requires no minimum balance, no monthly or annual fees, and free checks, but a customer using this account can only write 20 checks per statement cycle, or it is a $0.25 per check fee over 20, and they must use their VISA check card 10 times in a statement cycle, or there is a $5.00 flat fee that applies (ATM withdrawals count towards those 10 transactions). The customer must also have direct deposit. Can we still call it a "free" account as long as we advertise these certain restrictions that apply?
11/27/2006
What documentation do we need to have if a person wants to name a Nursing Home their Representative Payee?
07/01/2006
The Government issues millions of checks every year for a variety of purposes, including tax refunds, salaries, and Social Security benefits.
06/26/2006
Most of our employees have an account at our bank, but I have one employee that wants me to direct-deposit his payroll check into another bank. Am I in any way obligated to set up direct-deposit for him? I have been just sending a check each pay period.