(a) Form of disclosures. A bank shall make
the disclosures required by this subpart clearly and conspicuously in writing.
Disclosures, other than those posted at locations where employees accept
consumer deposits and ATMs and the notice on preprinted deposit slips,
must be in a form that the customer may keep. The disclosures shall be
grouped together and shall not contain any information not related to the
disclosures required by this subpart. If contained in a document that sets
forth other account terms, the disclosures shall be highlighted within
the document by, for example, use of a separate heading.
(b) Uniform reference to day of availability.
In its disclosure, a bank shall describe funds as being available for withdrawal
on ``the __________ business day after'' the day of deposit. In this calculation,
the first business day is the business day following the banking day the
deposit was received, and the last business day is the day on which the
funds are made available.
(c) Multiple accounts and multiple account
holders. A bank need not give multiple disclosures to a customer that holds
multiple accounts if the accounts are subject to the same availability
policies. Similarly, a bank need not give separate disclosures to each
customer on a jointly held account.
(d) Dormant or inactive accounts. A bank need
not give availability disclosures to a customer that holds a dormant or
inactive account.
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