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#1954304 - 08/19/14 12:23 PM CD renewal grace period
Likes to Comply Offline
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Joined: Nov 2008
Posts: 1,060
In the mountains
Can a CD renewal grace period be anything we want it to be?
Always learning something new...

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#1954542 - 08/19/14 03:59 PM Re: CD renewal grace period Likes to Comply
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,697
Cape Cod
Check state law to see what it says.

The maximum grace period permitted under Regulation D 204.2(c)(1), footnote 1(f), is 10 days.

To take advantage of the special timing requirement for maturity notices under TISA 1030.5(b), the grace period has to be at least 5 days. If you don't care about the shorter advance notice requirement, it can be from 1 to 10 days.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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