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#1546845 - 05/05/11 07:32 PM New TIS needed?
burgh Offline
Junior Member
Joined: Sep 2005
Posts: 40
When a customer changes from one account type to another is a new Truth in Savings form needed and does it need to be retained with the bank?

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Audit
#1549479 - 05/11/11 03:44 PM Re: New TIS needed? burgh
Deena Offline
Power Poster
Deena
Joined: Nov 2000
Posts: 2,701
PA
Yes, you would need to give the TIS disclosure for the new account. The regulation doesn't require that you keep a copy of what you gave the customer but you would need to be able to demonstrate that you provided the disclosure.
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