Our signatures cards have recently had the source of initial deposit removed by our software company. Can anyone tell me if this is a regulation to have or if it has just been a procedure by banks for previous years? Or where I could go to research this? Thanks for any input.
Since the Federal Board no longer requires reserve requirement on transaction accounts, should an FI stop deducting 10% of the Average Collected Balance on a Business Analysis Checking Account for the earnings credit calculation or it is also an option for the FI?Thank you.