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#2222637 - 09/30/19 06:27 PM Truth In Savings - Change in Product
mnbanker09 Offline
100 Club
Joined: Jan 2018
Posts: 122
Can (or should) a Truth in Savings disclosure include additional terms that if certain conditions are not met, that the product will revert to a different product offered by the Bank? For example, Product A requires that direct deposit is established within 60 days, if not, the account will revert to Product B. Anyone have experience with this? Thanks!

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Deposits and Payments
#2222654 - 09/30/19 07:40 PM Re: Truth In Savings - Change in Product mnbanker09
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 80,336
Galveston, TX
Are you planning to mail them Product B disclosures if they revert???
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#2222658 - 09/30/19 07:59 PM Re: Truth In Savings - Change in Product rlcarey
mnbanker09 Offline
100 Club
Joined: Jan 2018
Posts: 122
Yes. 30 days in advance of the change in product type.

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