Reg Q permits banks to pay interest on business accounts, but if we do and have corporations in this account, are we violating Regulation D?
Is a business allowed to have a NOW Account?
Our customer says they signed up for a free trial offer and gave their checking account number to pay for the S&H, but claim they didn’t want ongoing shipments. They want us to return the 4 ACH debits that hit their account. Can we return?
Our main bank location had a separate building that served as the drive-thru for the branch. This drive-thru was viewed as a "limited service branch" by regulators. We recently installed two Interactive Teller Machines (ITMs) in the drive-thru lanes and closed the building. Does this constitute closing a branch, or, does it remain as a "limited service branch" since the ITMs perform all of the same functions that the building previously provided?
We have been providing the Notice of Negative Information at loan closing; however, I was told by an auditor that it is required to be provided on the notice we send when the borrower has defaulted. Is this accurate?