Are spousal partnership accounts allowed to open a NOW account, like a sole-proprietorship, or are they a partnership in that they cannot have a NOW?
Can a limited liability company for profit have an interest bearing checking account?
What is the difference between legal requirements for a thirty versus a sixty-second ad for deposits? What disclosures do we have to include?
On Mobile Phone ads, the logo for Equal Housing Lender can't be displayed. Is it permissible to display only the text "Equal Housing Lender" on ads for home equity loans?
John S. Burnett, BOL Guru
Is there a time limit as to when the FRB can return an item as unauthorized, and if so, how long is it?
How many times may a paper item that has been returned for NSF be re-deposited? This question came up because I was told that I need to make sure that items are not being presented through ACH as RCK entries more times than they are allowed. I must admit I got confused reading the ACH rules. Could you please help clear this up for me?
Reg D and MMKT withdrawal limitations. We have a customer that has a large money market account they deposit into regularly by us crediting the account when we originate an ACH file for them. We receive a number of ACH returns where these drafts are NSF at other banks and we charge them back to our customer. We probably charge 10 or 12 a month back to them. Are these exempt from counting towards the transaction limits? This customer would like to use the Internet banking system we have to move money to another account in our bank. Will these count towards the transaction limits?
New Reg E Rules on Check Conversions, Payroll Cards
By BOL Gurus Andy Zavoina and John Burnett
I recently received a promotional letter from a large competitor bank in my neighborhood offering $100 cash for opening a new checking account, and an additional $25 if you open a savings account. I am so confused by Reg Q that I can't figure out how they are doing this. They require $250 to open the checking account to qualify for the $100 incentive. They also require $100 to open the savings to receive the $25 incentive. How does the Reg Q apply to this situation?