04/13/2009
When DDA or savings accounts go dormant, we pull the signature cards and place them in safekeeping under dual control. Is this really necessary? Why do they have to be placed under dual control?
02/16/2009
Are there any restrictions for opening money market savings accounts for government organizations?
01/12/2009
I know Reg CC does not apply to CDs, money market accounts and savings accounts, but can you put holds on these accounts? Does the customer have to notified at the time the hold is placed?
11/17/2008
I'm currently doing a Reg D and Q audit. What are the requirements for savings accounts that have excessive withdrawals every month? Are we supposed to close the savings account and convert it to a DDA or is it enough to send the letters and let them continue to make excessive withdrawals? My compliance officer says there is nothing we can do.
09/29/2008
Can you do a one time rollover from a 401k to an HSA?
09/08/2008
We are thinking of offering new high rate savings accounts at only one of our branches. The branch is in a more affluent area than our other branches. Do you see any discrimination issues with this?
06/30/2008
When advertising MMDA and Savings accounts, is there a regulatory requirements to state something similar to: “restrictions may apply”? It seems like certain restrictions such as, the 6/3 transaction rule, minimum deposit amounts, etc… which are disclosed within the account agreement should be considered when advertising these account types. If a bank’s ad lists products and service of which these two account are part is there a rule to notify the consumer that restriction may apply or is this just a “best practice”?
12/17/2007
Are there any rules or Regs prohibiting banks from opening/offering business savings accounts? What rules and Regs pertain to business savings?
09/17/2007
What are the restrictions when establishing new interest bearing deposit products for commercial customers? We need to develop a new account for our sweep products for overnight interest and want to know if there are any restrictions on this type of interest bearing account for commercial customers.
09/17/2007
Is there any reason why a car dealer reserve account can't be in a MMDA account?