If we send e-statements are we required to monitor whether they are being read, and if the customer is not opening them, do we have to revert back to paper?
We have just started with e-statements. Our overdraft protection statements have the same account number as the checking account it is attached to and are created at the same time as checking accounts. Are the Reg E and Z disclosures that we provide with each ODP statement going to be required on every ODP e-statement? Is that also true for the checking statements for Reg E?
Customer has a business EMV chip card and is filing a dispute. The customer has possession of his card and has not lost or misplaced it. The transactions he is disputing the chip was read meaning the card and pin were present. Do we have to take the dispute?
I’ve always heard the bank president should reply to complaints. Why is it best for the president to do this?
Do you recommend having scripts to respond to complaints received over the phone and do you recommend taping the conversations?
How long should we keep typical complaint letters?
It looks like "a bank must provide a potential customer written disclosure of its availability policy prior to opening an account and prior to accepting a deposit if the account has not yet been opened." I wonder when an account is considered "open." For instance, we do not take a paper application in conjunction with opening a deposit/savings accounts. We just explain to the potential customer what checking and or savings products we offer and give them brochures. Then we get personal information about them, and help them pick the deposit product they want. We provide disclosures, and accept a deposit to fund the account.
Is this acceptable?
Would a purchase/home renovation draw down line for 6 months then convert to a 240 month term be disclosed the same as a construction to permanent loan since renovations are being made and not construction from the ground up?
Are lot loans exempt from HPML?
Can employees resolve complaints on the spot, or should there be a formal written complaint required for this?