Answers about Trust Accounts

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.

If the amount of a national bank or federal savings association’s compensation is not set or governed by applicable law (state law, court order or trust agreement) the bank may charge a reasonable fee for its services.

July 2017