01/23/2012
I feel that my bank's operations unit has misinterpreted the Reg D provision limiting the number of transfers. They read the cycle to include quarterly statements on savings accounts and limit the six transfers per quarter not monthly. The depositor is permitted or authorized to make up to six transfers or withdrawals per month or statement cycle of at least four weeks.
01/16/2012
We have several accounts that are set up to receive their Checking Account Statement (Paper) Annually. Are we out of compliance by not sending them a statement monthly when our disclosures state that they have 30 days from the date the statement was made available to us to notify us of any errors?
09/12/2011
Our customer has reported several forged checks on his account. The first check cleared 11/3/10 and last check cleared 1/24/11. He informed us on 1-26-11 of the forgeries done by the same person( his son). The statements are dated 11/08/10, 12/13/10 and 1/10/11. Our Account Agreement says the customer should notify us within 30 days of statement, but if after 60 days, they cannot assert a claim on that statement. What is our liability?
09/05/2011
Is an annual statement required on CODs if notices are not sent out on compounded interest CDs?
09/05/2011
Is an annual statement required on CODs if notices are not sent out on compounded interest CDs?
08/15/2011
When a customer dies and has no other signers on the account, we have been bad addressing the accounts and holding statements. If the customer has POD's on the accounts without any signers, how do we know that if statements go out to the deceased address that the financial information is not going into unauthorized hands? Should we bad address the deceased accounts even if they have PODs on the account and restrict their statements?
08/08/2011
What rights does an authorized signer have on a checking account? I was told at my previous bank position that a signer could do anything on a checking account except that they could not close the account.
08/01/2011
What are the valid reasons for disclaiming a breach of warranty Rule 8 return?
06/20/2011
How long must a bank retain statements and other correspondences returned "undeliverable" by the post office?
03/21/2011
Can a customer “opt out” of receiving bank statements entirely? Thus, they will not receive a paper statement or an E-statement.