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#2226066 - 11/21/19 01:30 PM Bonus on New Accounts and TISA
TINKerBell Offline
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If a bank is offering a bonus on new checking accounts, do the TISA disclosures have to be altered to detail the bonus?
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#2226068 - 11/21/19 01:44 PM Re: Bonus on New Accounts and TISA TINKerBell
Inherent_Risk Offline
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1030.4(b) Content of account disclosures. Account disclosures shall include the following, as applicable:
[...]
(7) Bonuses. The amount or type of any bonus, when the bonus will be provided, and any minimum balance and time requirements to obtain the bonus.

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#2226071 - 11/21/19 02:21 PM Re: Bonus on New Accounts and TISA TINKerBell
TINKerBell Offline
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Understood. Does the information required need to be on the standard TISA disclosure or can it be given on a separate disclosure attached to the standard disclosure at time of account opening?
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#2226099 - 11/21/19 05:44 PM Re: Bonus on New Accounts and TISA TINKerBell
bigfish Offline
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trolling for the big one
OFFICIAL INTERPRETATION OF SECTION

Section 1030.3--General Disclosure Requirements

(a) Form.

1. Design requirements. Disclosures must be presented in a format that allows consumers to readily understand the terms of their account. Institutions are not required to use a particular type size or typeface, nor are institutions required to state any term more conspicuously than any other term. Disclosures may be made:

ivi. On more than one document, as long as the documents are provided at the same time.

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#2226188 - 11/22/19 05:07 PM Re: Bonus on New Accounts and TISA TINKerBell
TINKerBell Offline
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TINKerBell
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Posts: 3,255
Tiger's Den!
Thanks for the help!
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