We are having fits with an examiner. Question: For record retention, we keep copies of TIS disclosures if the service change routine or balance requirements have changed. The examiner said we had to keep a copy of the disclosure everytime the "rate" changed. This could be weekly.

We had an account that originally we tiered the rate, then we made all the tiers the same rate, but left the TIS disclosure as tiered, but all the rates and yields were the same. The examiner said that we can't disclosure tiers when the rate is the same for all tiers. She said it would affect the customer's yield. Is this true?

If the rates and yields are the same, it isn't really tiered.

$.01-$1,000 -- 1.00%
$1,000.01-$10,000 -- 1.00%
$10,000.01 and above -- 1.00%

is the same as "This account pays 1.00%".

We produced our rate sheets separately and because they were part of the TISA package, they were retained. You'll need them to audit as well.

You are right it is not tiered, but instead of having to have our platform system changed to change the form and the possibly charge it back if management decided to tier the rates again, we just made all tiers the same. Does it really hurt anything to leave it this way or should we have changed the form?

I think it is incorrect, technically. It may be slightly misleading but so long as the rates and terms are accurate, I don't know that it is a violation of law. They could be sticklers and say tiered accounts are to be disclosed this way, not others. But that is like a cop citing you for speeding because you were doing 50 in a 50 even though your speedometer showed 60.