Our bank would like to start charging an overdraft percentage on accounts that remain overdrawn for an extended amount of time. What stipulations are there to doing this?
We are struggling with how to get customers to convert to e-statements and E-SIGN in general. We were considering converting all account to this, but the law doesn't really allow it. How are banks getting their customers to convert?
Do our bank statements need to show the FDIC insurance logo?
We are discussing changing our free checking account to include eStatements as a requirement of the account. To request paper statements would create a monthly fee. Can we still advertise this as a free checking account?
The bank would like to target unused HELOCs and offer these clients a promotional rate of 2.99% for six months to use the line. After six months, if the advance(s) are not repaid, the rate would convert to the contract rate. What disclosures would be required upfront? Would we have to specify the contract rate that each individual HELOC would convert back to or can we just give a general disclosure abuot converting back to contract rate?
Is it permissible for our bank to include advertisements in our statements for other companies products and services?
We want to advertise some home loan products on our bank statements. We can include "Equal Housing Lender", but there is no way to add the house logo. Since we can't add that, can we run the ad anyway?
Can we put an insert advertising NDIP products in our bank's newsletter that has “Member FDIC” on it?
We have a few savings accounts that have quarterly statements. Within a calendar quarter how many transactions, such as transfers to another account, can a customer have? For example, the customer has twelve transactions within the quarter (four per month).
Can we put an insert advertising NDIP products in our bank newsletter that has “Member FDIC” on it?