Our bank still issues a paper document for CDs. It seems that many banks are no longer doing this. Are there any negative issues that need to be considered as we look at not issuing a paper document? Thanks for any comments that might help us.

They are nothing but receipts anyway, so I'm not sure what negatives would exist besides customers not understanding.

I know that we can provide a cd receipt instead of the fancy paper certificates, but are we required to give the client the cd receipt? We review with them and give them the TISA for the CD, which basically has the same information that is on the receipt. Nor is the cd receipt required to cash in the CD.

Any opinion would be appreciated.

As long as you provide the TISA disclosure - whatever else is provided to the customer is between you, your customer and your legal counsel.

Thank you Randy for the confirmation!