Vendor Guru Q&A - Operations

Latest Operations - MMDA/MMA Topics

Charge MMA Per Item Fee?

06/17/2018

Can we charge a Money Market account a per item fee for each item that exceeds the allowable 6 withdrawals per month?

Concerns When Offering MMA with Multiple Tiers

07/02/2017

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?

In Person Withdrawals Count As Qualified? (MMDA)

02/19/2017

My client made 12 withdrawals in person from his money market. I thought the in person withdrawals did not count as a qualified withdrawals. Are we allowed to charge him fees?

Paper Statement Fee for Money Market Accounts?

03/02/2015

Can we charge a paper statement fee for Money Market accounts?

Conditions for customers making EFT claims

10/25/2020

When Reg E does apply, what kind of requirements can we place on the customer? Can we require that they file a police report or prove they have attempted contact with the merchant first?

IRAs no longer defined by age

10/25/2020

Can your customer have an IRA past 70 ½?

More than one rollover if repay coronavirus

10/25/2020

How will our customer repay the $100,000 withdrawal? Won’t it exceed one rollover per year rule?

Permissible Purpose under the FCRA

10/25/2020

Our consumer loan application includes an authorization allowing us to obtain a credit report as a condition of applying for credit. Is that acceptable consumer consent for permissible purpose under FCRA?

Latest Operations - MMDA/MMA Topics

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