I am using the Website Compliance Checklist that is available on BankersOnline. Question 17 on this form, "Is the term "Interest Rate" used and not just "Rate"?
I am having some trouble finding what Reg or guidance this might be related to. I'll need to explain to the Audit Committee and Board why it matters and right now I can't find any guidance.
We offer Super Checking accounts that pay interest. Do the eligibility rules under Regulation D apply to this type of account?
Are there any concerns with offering a money market account that has multiple tiers, where each tier would have the same interest rate and APY?
We wish to contact some of our large depositors and offer them a bid rate CD that is not advertised on our rate board. Is this a violation of deposit rules? Do we need to offer this rate to all?
If Fed Funds and Libor Rates rise most likely the investment portfolio will go down? If Fed Funds and Prime rates rise most likely loan yields will increase?I just needed another opinion.
We want to place a mortgage ad and use the following: If the interest rate is over 4.00% on your home loan, you may be able to refinance at a lower rate. Are there specific disclosures that would have to be made in this scenario or is it fine as is?
What is the difference between APY and YTM?
Cashing out cd's and typing up new ones is the best way to change from a joint account into a Trust Account. Do we give them the current rates we are offering or do we type up the cd to finish the remaining term at the rate they were actually getting?
When quoting CD/Deposit yields and interest rates, is there an order required? Yield first, then rate?
Advertising the interest rate and the APY on rate sheets displayed in lobby. Must we use the 2 decimal place rule for both? Or can the interest rate be displayed with 3 decimal places and the APY with 2 decimal places.