Marketing feels as though statement stuffer after statement stuffer is not being read. They would like to add some of the messages to the outside of the envelope. It may be restated inside as well. Would this be a problem?
Is Substitute Check Disclosure required at account opening?
We have a home equity product that may have a balloon payment at maturity. Does this have to be disclosed in advertisements for the product?
Does the Federal Privacy Act prohibit a bank from verifying funds for another bank if a customer presents a check drawn on a customer's account?
Are banks required to show employer and employee contributions separately on HSA account statements?
We started using scan machines in our office to make electronic deposits to our business account. We have always stamped the back of our checks "for deposit only" with our name and account number. The machine now puts a stamp on the back of the check with the bank name, date, item number and routing number. Are we required to stamp this check or is the scan machine stamp sufficient? Is there an UCC code to look to for information on this subject?
In order for an account to be classified as "Free", does there need to be an option to receive a paper statement for free?
Would our statements be considered advertisements if we put in a brief mention about new CD specials?
What formats are available to assess risk?
We have a third party who processes our daily incoming and outgoing cash letter, statements and stores the images for us. When we receive a summons we have to request the information from them. They charge a fee for this service and would like to be reimbursed by the requesting party. Is the third party expense reimbursable under IRS rules? If not, is there anyway we can charge the customer for this expense?