We have several accounts that are set up to receive their Checking Account Statement (Paper) Annually. Are we out of compliance by not sending them a statement monthly when our disclosures state that they have 30 days from the date the statement was made available to us to notify us of any errors?
What are the rules for advertising on mobile devices, such as ads our mobile customers see on their smart phones?
Does Reg Z require retention of advertisements, I don't see it? And do you know where Reg DD requires it?
Is the FDIC logo required on the annual privacy notice or the web page privacy notice?
Most deposit rate signs inside the bank are not subject to most advertising requirements. What about consumer and mortgage loan rate boards? Does a 30 year mortgage rate of 4.50% trigger other terms or can we simply state, see our mortgage loan officer for additional details?
I have a revocable trust account and the trustee would like a visa check/debit card with it. Are there any restrictions to why she should not be able to get a debit card?
We have a somewhat unique checking product - we pay 4% on balances up to $15,000 and 0% above that. Our disclosures indicate dividend rate of 3.928% and APY of 4%. If a member has $15,000 or more on deposit their return is the 3.928% because there is no compounding as we pay 0% on their monthly dividend. Is this accurate? Seems if we change dividend rate to 4% then APY will be more than 4% for those with balances under $15,000.
Under Visa's Zero Liability rules, is there a time frame in which a customer has to report a fraudulent transaction on their account? I understand that the Reg E rules apply to ATM and PIN based transactions not processed through Visa. I am mostly concerned with Signature Based, Visa processed transactions.
A member is deceased and she has an estate with an administrator on the account. Can we place holds on the account?
We are in the process of rewriting a disclosure that roughly touches on some of the services, products, and fees associated with our accounts. Since this will be something that the customer can take with them I know it falls under the advertising rules. Our marketing department has a section in regards to Non Sufficient Funds. I know there are rules regarding Overdrafts (fees, when you will pay them, etc) if we don't use the term overdraft and only refer to it as an Non sufficient charge, are the same rules prompted? b) Advertising disclosures for overdraft services. (1) Disclosures. Except as provided in paragraphs (b)(2),(b)(3), and (b)(4) of this section, any advertisement promoting the payment of overdrafts shall disclose in a clear and conspicuous manner: (i) The fee or fees for the payment of each overdraft; (ii) The categories of transactions for which a fee for paying an overdraft may be imposed; (iii) The time period by which the consumer must repay or cover any overdraft; and (iv) The circumstances under which the institution will not pay an overdraft