Our institution sends E-statements to its members. With regard to 12 CFR 205.9(b)(5) and listing the address and telephone number for inquiries, is this required to be directly on the statement, or can we include this within our online banking module or via a message to the member when we send notification that their statement is available?
What is the regulation (if there is one) that explains that a closed account can be reopened should a debit card or EFT/auto debit come through on a customer’s closed account?
If a customer initiates a transaction online, then cancels it the same day or the day after, are we required to give provisional credit? The merchant has not promised a refund, but the customer has a print-out showing the transaction was canceled.
Does the E-SIGN Act allow disclosures to be provided to borrower's via fax? If so, is it considered to be "received the same day"?
Currently, our ATMs do not accept deposits. We have never had a customer make a deposit at another bank's ATM either. However, we do have accounts all over the country and it would be convenient for them to be able to make a deposit at an ATM rather than mailing it to us. We are thinking about starting to market this option to them, but are wondering what rules and regulations we need to be aware of first, or if there is anything else we would need to do to implement this?