Most Popular Operations Content
Fee Disclosed, But Never Imposed
02/21/2005
Our bank is seriously considering charging our customers $1 for an inquiry fee if they speak to a live person as opposed to the automated phone system or the Web site. The charge is disclosed in the Truth in Savings statements, but we have never instituted it. Since we are seriously considering charging the fee, will the regulators consider it a pattern and practice of not charging, and will we, therefore, have to re-disclose to our customers?
Getting Everyone on Board for Overdraft Privilege-- John M. Floyd and Associates
02/21/2005
Our bank has decided that overdraft privilege is an important element to add to our package of services. What is the best way to relay its great benefits to our staff and our customers? We don't want our staff or customers thinking we are implementing the program only for the increased non-interest income.
What Are Third-Party Checks?
02/21/2005
Can you give me the definition of a third-party check and give an example?
CDs Only Offered in Bank's Geographic Market Area
02/21/2005
We will be offering CDs tied to money market accounts, both at premium rates, for a short time as a way to get new customers in the door. We do not want to offer these accounts to people outside of our geographic market area. If we have a "no out of area accounts at these rates" policy, are we required to disclose that in print advertising that only runs in our local area?
Restriction on Overdraft "From" Accounts
02/21/2005
Are there any regulations (Reg. D) that restrict what types of accounts can be used as a "from" account to cover an overdraft? It is my bank's policy to set up overdraft coverage only from savings accounts and money market accounts to a checking account. Would it be in compliance to establish overdraft coverage from checking to checking?