02/01/2004
01/19/2004
Reg D Excessive transactions pertaining to a MMDA: Does the regulation state "not to exceed three of twelve months with excessive transactions"?
01/05/2004
If a custodian of a UTMA account passes away and no successor custodian is appointed, who is the appointed "guardian" of this account? The beneficiary is only seven years old. Would this need to go to an attorney and then the court will appoint a custodian for this account?. Can the parents of the beneficiary appoint a new custodian on this account?
01/01/2004
Question: I have a question about money market accounts. I know that money market accounts are limited to six transactions per month, three of which can be in check form.
12/01/2003
Question: I was always taught that the ownership on accounts must be the same for customers that want to do telephone transfers. Is that true?
11/17/2003
What are some suggested policies that should be included in an Employee Handbook?
09/29/2003
What regulation does money market checking writing fall under and what are the guidelines?
09/15/2003
A customer has a Savings account that is set to receive an annual statement. The customer signs up for the Bank's Internet Banking product that allows transfers between the customer's savings and checking account. Question: If a transfer never occurs between the savings and checking account, does the bank have to send a quarterly statement or can the bank continue to send an annual statement?
09/15/2003
I am wanting to find the rules and regulations for re-presenting an ACH once it has been returned NSF. Once I receive notice that the ACH has not cleared, I then reverse the payment from our customer's loan, charge him/her a fee and then wait until I can verify with the customer that funds are available for me to run the ACH again. Can I run the ACH again without approval from the customer? Or, must we have notified the customer previously that we will attempt to collect on the ACH a designated number of times such as when collecting an NSF check which has been converted to an ACH item?
08/11/2003
We have a customer who would like to close his accounts at another institution and open them with us. He owns a collection agency and he told us that the state requires him to hold a trust account and an operating account. He stated that his previous institution would not allow him to transfer funds between the two accounts and that is why he is closing his accounts with them. He asked us if we would permit transfers between the two accounts if he opened them at our institution. It is our understanding that as long as both accounts have the same owner and TIN then transfers should be allowed. I don't understand why an institution would not permit transfers, unless the TINs did not match or the customer had a history of questionable transactions, but this customer is the owner of a reputable, long-standing area business. Are we correct in assuming that transfers are permissible, or is there a trust regulation that we are unaware of?