I need confirmation on my thoughts concerning Reg DD Sec. 1030.4 Account disclosures. Specifically this section: (ii) Effect of closing an account. If consumers will forfeit interest if they close the account before accrued interest is credited, a statement that interest will not be paid in such cases.

Auto-renewing CD is in grace period. On the Truth in Savings disclosure, if we say we WILL pay interest we can still NOT pay interest accrued during grace period if someone closes during the grace period?

I am thinking this provision is referring to closure prior to maturity.

Thanks.