03/11/2018
We are moving our accounts to a relationship style checking with service charge refunds with certain transactional behavior.(ACH, POS, eStatements,etc) What are some considerations we need to remember when building the TIS disclosures?
02/11/2018
What all is required to advertise a special CD rate on an outside digital board? Does APY have to be spelled out? Is this sufficient?
12 Month CD 1.26%APY ASK US
02/04/2018
We want to offer a savings account for students. We are thinking of offering a higher rate on the first $1,000 deposited and then our normal rate on balances over that. This will be effective for one year and then the rate goes to our regular savings rate at that time. If we put up a banner on our building and state the higher rate, do we need to also state an APY on the banner? And what balance would we use to disclose the APY? The APY for $1,500 and $2,500 are considerably different.
11/19/2017
Currently our UTMA accounts (we are in Texas) do not have a service charge and they are opened as a minor savings product type. Our disclosures do not state that they will be converted to a regular savings service charge at the age of 18 but we are soon changing our disclosures to read that minor savings will be converted to regular savings when the minor reaches 18.
On existing UTMA accounts are we able to change the service charge with a 30 day notice or for the existing accounts and do we have to wait until the minor is 21 to be able to change their service charge?
I have received some responses that an UTMA is irrevocable and because the custodian was not aware of the charge at the time, that we could not enforce the change until the minor reached the age of 21.
03/19/2017
When advertising rates on CD's and savings accounts do you have to state the interest rate and the annual percentage yield or is the annual percentage yield sufficient to be in compliant with Reg DD?
03/12/2017
When changing the Truth in Savings booklet for deposit accounts, is there a dual disclosure requirement (the new and the old TISA) for new accounts opened within the 30 days from when the change in terms notice is mailed and the date of the actual change in terms? What regulation or guidance dictates the dual disclosure requirement? I don't see any reference within Reg DD.
10/30/2016
I have a question about Reg DD, 1030.5: can you include advertisements when sending subsequent disclosures of a new terms and conditions to the customer?
09/18/2016
Can separate advertising information (re: a new product) be included with a CD Maturity Notice?
01/24/2016
The APY for a tiered rate account is based upon the balance of the tier. What is the amount that should be entered on the TISA disclosure "To obtain the annual percentage yield disclosed- You must maintain a minimum balance of $________ in the account each day to obtain the disclosed annual percentage yield"?
11/22/2015
We will be sending letters to our customers with grandfathered NOW accounts informing them that accounts will be switched to Super NOW accounts,
regular checking accounts, etc. What information is required in the letter we provide to the customer, and is there a timing issue?