I am researching how to determine which Fiduciary/Agency accounts meet the pass-through account FDIC coverage requirements. I would like to know what is customary to request from these potential clients, since FDIC requires that certain conditions are met, for example, deposit terms for accounts opened at the financial institution must match the terms the third party agent promised the customer and how the third-party fiduciary disclosed fees and other terms of the relationship to their clients, Custodian maintains name and ownership interest of each depositor and funds are not co mingled, applicable state law, etc. Do financial institutions require additional documentation or an account holder's certification to verify pass-through eligibility? Any information that can assist me in determining how to identify and verify FDIC pass-through coverage would be greatly appreciated.
Are we required to put Member FDIC on overdraft notices, notice of returned deposit item, etc.? We typically use it as much as possible but in this case like to remove it so that I can use the same notice paper for a non-FDIC insured item - safe deposit boxes and their payment notices.
If we are listing OREO property for sale in the newspaper, must we include the FDIC or Equal Housing Lender information?
How much does FDIC cover for a non profit (church) business trust account?
Has the FDIC changed the deposit insured amount to $100,000 except for IRA and those will be at $250,000?
When you are calculating insurance coverage for the FDIC, is Money Market included?
Does FDIC Insurance cover an authorized signer on a deposit account (for example: individual or joint checking account with one authorized signer).
What are the legal requirements for a bank to open a savings account for an individual customer? From what I understand, banks usually require (1) a signature card and (2) the following identity information: name, address, date of birth and identification number. I don't need any clarification on the identity requirements for Know Your Customer compliance. I am looking for more clarification on the requirements for the signature card. Is the signature card required by law to open a bank deposit account? If so, what is the law and what is the legal definition of a signature card (e.g. the required elements for a signature card)?
Is the FDIC logo required on the annual privacy notice or the web page privacy notice?
Does the name of a Trust/POD/ITF need to be in the title of a signature card?