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#20663 - 06/13/02 12:11 AM Account Stmts for Businesses
Bville Offline
Diamond Poster
Joined: May 2001
Posts: 1,282
Out West
Since Business deposits are not covered under TIS, are there some good arguments for or against giving the same info about APY and interest earned on business periodic statements as we give on consumer statements?
Last edited by nga; 06/13/02 12:40 AM.
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Operations Compliance
#20664 - 06/13/02 01:27 PM Re: Account Stmts for Businesses
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
One argument against providing this information -- you'll have to decide if it's a "good" argument -- is that, in today's rate environment you might be reminding the business person just how low a rate you are paying on the business MMDA or savings account.

The flip side of this is that you might want to print the information if you tend to be on the high side of the market in your area.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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