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#2026757 - 07/13/15 03:27 PM Exception Pricing for Money Market Account
SunnyFL, CRCM Offline
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Joined: Sep 2004
Posts: 205
FL
We have a customer that we would like to offer higher rates on a money market account to. This is not something that we typically do and I am wondering what regulations I need to consider. Thanks.

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Deposits and Payments
#2026759 - 07/13/15 03:34 PM Re: Exception Pricing for Money Market Account SunnyFL, CRCM
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,630
Cape Cod
If the customer is a consumer, you will need to ensure that the TISA disclosures provided reflect the rate, terms and conditions that apply to the account, rather than those that might be generated for the "vanilla" version of the account. If there will be any balance requirements for other accounts, you'll need to ensure you have a good monitoring system for those balances.
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#2026777 - 07/13/15 04:32 PM Re: Exception Pricing for Money Market Account SunnyFL, CRCM
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,321
Galveston, TX
Setting up and maintaining a whole new product on your deposit system for one customer so you can pay them .05% more on a money market account seems a little pricey to me.
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