Answers About Asset Management
Select from the following questions about asset management.
The bank charges excessive fees for managing our trust account. What can we do?
Generally, Federal banking laws and regulations do not govern the nature or amount of compensation that may be paid to national banks acting as trustees.
A national bank acting in a fiduciary capacity may charge or deduct a reasonable compensation for its services if the amount is not regulated by local law or provided for in the trust agreement.
We don't believe the bank is properly managing our trust account. Can the OCC help?
The administration of trust accounts by national banks is governed by Federal law, the trust instrument, and State law. Complaints related to fiduciary activities require a review of the governing instrument and all applicable laws.