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#109988 - 08/26/03 07:48 PM Deposit Brokers and TIS Disclosures

TIS says "consumer" gets required disclosure. What happens when deposit broker opens deposit in his name and he holds subsidiary records of his cusotmers' interests? Are TIS disclosures required? Who receives them? Thanks

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Operations Compliance
#109989 - 08/26/03 08:33 PM Re: Deposit Brokers and TIS Disclosures
RBanker Offline
Power Poster
Joined: Jul 2003
Posts: 2,675
Austin Texas
The best suggestion I have would be to ask your legal counsel, and if you don't want have one, I would suggest you find one. Most community bankers I've talked to tend to shy away from brokered deposits.
My comments are absolutely no reflection of, nor influenced by, my employer - take them at your own risk.

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