According to REG DD - if the rate and APY is unknown at time a maturing notice is sent, then, a statement to that effect in addition to the date it will be in effect and a number to call should be included on the notice. Can we place a general statement on the notice "contact your branch for current rates and terms?"
My opinion is NO based on the fact that the regulation specifically says to include the date the rates will be available; however, i am also wondering if that is a general practice to just include a general statement and i'm being too difficult.
Excerpt from REG DD:
If the interest rate and annual percentage yield that will be paid for the new account are unknown when disclosures are provided, the institution shall state that those rates have not yet been determined, the date when they will be determined, and a telephone number consumers may call to obtain the interest rate and the annual percentage yield that will be paid for the new account.