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#1597601 - 08/29/11 03:06 PM CD account statements
JLONO Offline
New Poster
Joined: Aug 2011
Posts: 9
Do I need to send CD statements? Maturity Notices and Renewal notices? I just found out that we only send the customer a maturity notice, that seems odd to me. Please help.

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Operations Compliance
#1597607 - 08/29/11 03:20 PM Re: CD account statements JLONO
BrendaC Offline
Power Poster
BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
Maturity notice requirements are defined in Reg DD. There is no requirement to provide CD statements, advices of interest crediting, etc.
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#1597608 - 08/29/11 03:21 PM Re: CD account statements JLONO
Likes to Comply Offline
Diamond Poster
Joined: Nov 2008
Posts: 1,060
In the mountains
Take a look at Regulation DD Sec. 230.5 Subsequent disclosures. For CDs with maturity greater than a year you will also need to reference 230.4 for the requirements of the disclosure.
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#1597629 - 08/29/11 04:02 PM Re: CD account statements Likes to Comply
JLONO Offline
New Poster
Joined: Aug 2011
Posts: 9
Thanks so much!

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