{"id":1319,"date":"2018-10-18T15:11:41","date_gmt":"2018-10-18T15:11:41","guid":{"rendered":"https:\/\/albanknews.com\/?p=1319"},"modified":"2018-10-18T15:11:41","modified_gmt":"2018-10-18T15:11:41","slug":"compliance-question-of-the-week-reg-dd-and-advertising-requirements","status":"publish","type":"post","link":"https:\/\/albanknews.com\/?p=1319","title":{"rendered":"Compliance Question of the Week: Reg DD and Advertising requirements"},"content":{"rendered":"<p><strong>Question:<\/strong><\/p>\n<p>Under Reg. DD, if a time account product is advertised generally is there a requirement to provide the term for CDs if a specific CD product is not advertised, and instead, simply that time accounts are among products offered?<\/p>\n<p><strong>Answer:<\/strong><\/p>\n<p>No, you\u2019re not required to provide the time requirements in 1030.8(c)(6)(i) when you are only advertising CDs generally and not a specific product. The time requirements are required when you are advertising a specific Annual Percentage Yield (or a bonus which would trigger the APY). If you advertise the APY, it is considered a \u201ctrigger term,\u201d which requires you to provide all of the required information in 1030.8(c), as applicable. Since you are only advertising a general product and no APY, the time period requirement is not necessarily required.<\/p>\n<p><em>(c) When additional disclosures are required. Except as provided in paragraph (e) of this section, <strong>if the annual percentage yield is stated in an advertisement<\/strong>, the advertisement shall state the following information, to the extent applicable, clearly and conspicuously:<\/em><\/p>\n<p><em>(6) Features of time accounts. For time accounts:<\/em><\/p>\n<p><em>(i) Time requirements. The term of the account.<\/em><\/p>\n<p>12 C.F.R. 1030.8(c): <a href=\"https:\/\/url.emailprotection.link\/?aY5d1fUXRGTKevmZlTwh3b3Tt99MBaIFLHtdCtvsHTkLs7e-7ExBTBeXC2h0M4wiY7cAElk4fRLe7870H6fIkIiR0BNfTiqF4S6wdCujmjPjVcPv7iLza7RRo4t93G1YTXPbY4r74tncY9rKPqvRTNB8YoSN-JhIAYJFBnR8eRiRZpoOoxbTHKwM98cOmxmmhFQ7Mm03sAd1bzuriOqkJCw~~\">https:\/\/www.ecfr.gov\/cgi-bin\/retrieveECFR?gp=&amp;SID=d189aebe2c2c59886dd9ec4e4771b7ed&amp;mc=true&amp;n=pt12.9.1030&amp;r=PART&amp;ty=HTML#se12.9.1030_18<\/a><\/p>\n<p><strong>\u00a0<\/strong><strong>Not a member? <\/strong>Learn more about membership with Compliance Alliance by attending one of our live demos:<\/p>\n<ul>\n<li><strong><a href=\"https:\/\/url.emailprotection.link\/?aWV-6RRHkwlja-IHXg6OTaUQu3J5oH_CTbXDpg33Nfeu0OIMhGbeGbpHzi7NxNk-4mddXPQrYenXFvzIvBuiq_yhnzqYyiZ8RDllhIXVK5MwedIMNBejorcBCznkNptGR\">Live Demo on Tuesday, October 23<sup>rd<\/sup> @ 10:00am CT.<\/a><\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/url.emailprotection.link\/?aWV-6RRHkwlja-IHXg6OTaUQu3J5oH_CTbXDpg33Nfeu0OIMhGbeGbpHzi7NxNk-4mddXPQrYenXFvzIvBuiq_yhnzqYyiZ8RDllhIXVK5MyxBT5J_ijoJ5gEEF9RO7EM\">Live Demo on Thursday, October 25<sup>th<\/sup> @ 1:00pm CT.<\/a><\/strong><\/li>\n<\/ul>\n<p><strong>\u00a0<\/strong><\/p>\n<p><em>Compliance rules and regulations change quickly! For timely compliance updates, <strong><a href=\"https:\/\/url.emailprotection.link\/?anicE97FhqIU_8dqiUoqfspI9r-LafAS78z27L1S7BR4~\">subscribe to Compliance Alliance\u2019s email newsletters<\/a><\/strong>. Compliance Alliance offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call <strong>(888) 353-3933<\/strong> or email <strong><a href=\"mailto:info@compliancealliance.com\">info@compliancealliance.com<\/a><\/strong>.<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Question: Under Reg. DD, if a time account product is advertised generally is there a requirement to provide the term for CDs if a specific CD product is not advertised, and instead, simply that time accounts are among products offered? Answer: No, you\u2019re not required to provide the time requirements in 1030.8(c)(6)(i) when you are only advertising CDs generally and not a specific product. The time requirements are required when you are advertising a specific Annual Percentage Yield (or a bonus which would trigger the APY). If you advertise the APY, it is considered a \u201ctrigger term,\u201d which requires you [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1070,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19,25],"tags":[],"class_list":["post-1319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","category-industry-reports","has_thumb"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/albanknews.com\/wp-content\/uploads\/2017\/11\/compliance-alliance.png?fit=800%2C800&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p4Y3P2-lh","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts\/1319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1319"}],"version-history":[{"count":8,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts\/1319\/revisions"}],"predecessor-version":[{"id":1327,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts\/1319\/revisions\/1327"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/media\/1070"}],"wp:attachment":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}