01/05/2004
We are a small three branch bank. Our CEO is pressuring the staff to open new checking/savings accounts online at our website. I have been to numerous banking seminars, and from what I understand, banks that currently are opening up new accounts on their websites are suffering substantial losses. What can we do to prevent this from happening at our institution in the event we decide to open new accounts on the Web? And can we restrict the opening of new accounts to residents of our state only?
11/03/2003
Our bank wants to offer loan applications online. The customer can print the application, then submit it in person or mail the application. The customer cannot enter any information online. This application cannot be submitted via the Internet. My question is, we are offering the application in PDF format, which would require the user to download and install the Adobe Acrobat Reader. Is the bank responsible to disclose anything about Acrobat or the link to the Adobe site?
08/04/2003
As it relates to IT examinations, what are the top "hot buttons" for regulators?
08/04/2003
Our bank is going to start offering online loan applications for customers to print, fill out and send in for home mortgages. Do we have to give any disclosures out on the Web site to customers printing up a loan application? We will also be taking applications for new accounts online. To stay in compliance with the CIP regulation, will they have to come into the bank for the account to be opened? Do we have to have the disclosures online or can they be given to the customer when the customer comes into the branch?
04/21/2003
We have established a web based loan origination system whereby loan applications are taken over the web. In this case is it permissible to send Adverse Action Letters over the web or must they go through the mail?
03/17/2003
We have established a web based loan origination system whereby loan applications are taken over the web. In this case is it permissable to send Adverse Action Letters over the web or must they go through the mail?
09/16/2002
We are considering offering mortgage loan applications online. This would include submitting the completed application. I know there are tming concerns about early disclosures and E-sign issues. What else?
07/15/2002
We are considering adding mortgage applications and possibly home equity applications to our internet banking site. If we do this, what are the requirements for diclosing properly? Are there sites containg disclosures that could be downloaded by hyperlink with the applications or some kind of electronic acknowledgements? How do other banks disclose with online applications?
01/07/2002
We all understand the positive impact to our bottom line if more of our customers conduct transactions over the Internet. What must we do to make the Internet more secure and make consumers more comfortable conducting financial transactions and services on the Internet?
09/03/2001
Assuming that Electronic Bill Presentment and Payment (EBPP) does become the consumer's preferred method of receiving and paying bills, as the industry predicts, what can a bank do today to position itself for, and help compel the market toward, that future?