Most Popular Operations Content
Direct Deposit of Her Payroll into His Account
05/28/2007
One of our customers with an individual account and no authorized signers is having his girlfriend's payroll direct deposited into his account. How do we monitor this to keep it from happening on other accounts? Also, how should we handle any more of her deposits into this account?
Member FDIC on General Image Boards
05/28/2007
Our bank holding company has not been using Member FDIC on many of their billboards that are general image boards. The auditors have said that this is wrong and we need to have Member FDIC on our billboards. We used a billboard for the announcement of our 100 years in banking and we had the bank name, the announcement of our 100 years in banking and an image of a birthday cake. Were we required to have Member FDIC on this billboard?
Member FDIC in Place of the FDIC Logo?
05/28/2007
When creating advertising materials for deposit products, can the text version Member FDIC replace the FDIC logo if there is no room to include the logo?
Gift Cards- disclosing fees on advertising
05/28/2007
We are designing a brochure for our Gift card program. We work with a vendor on this program; the vendor receives part of the fee for a card purchased and the bank receives the remainder. We sell these cards to both customers and non-customers. A gift card does not fit the definition of an "account" under TISA. Would we have to disclose the fees on the brochure? Could we say "ask about the fees" or do we have to disclose the fee schedule? Or could we be silent on the fees? Or is this a deceptive advertising practice? I am also reviewing the contract with the vendor to see if the vendor requires us to disclose fees when advertising.
Power of Attorney on a Joint Account
05/28/2007
If there is a POA for one individual on a joint account, do you need authorization to accept the POA from the other owner or signer of the account?