you know it’s important for the bank to keep track of all active NOW Accounts?
Remember NOW accounts are not the same classification as business/commercial
interest bearing transaction accounts.
Accounts can be maintained in the following:
- 1 or more individuals including sole proprietorships
- Not for profit organizations, operated primarily for
religious, charitable, educational, political, philanthropic, or similar
- Officers, employees, or agents of public entities
held in the banks trust department
you know that on the calculating cash to close table on the Closing Disclosure
accuracy of these numbers is
- The column “Did This Change?” should disclose an answer
that is distinguishingly more prominent than the other disclosure under
this same section.
- The example model form shows this as being not only
capitalized, but also in bold letters.