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#2248861 - 02/08/21 06:03 PM Removing service charge
elebra Offline
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Joined: Apr 2009
Posts: 106
If we are removing the service charge fee for an entire account type, will we need to send a new disclosure or is a statement blurb sufficient?

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#2248870 - 02/08/21 07:34 PM Re: Removing service charge elebra
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,858
Cape Cod
Neither is required, because the change is beneficial to customer's holding those accounts. But assuming the bank wants the word to get out to the customers (you're doing something positive for them, why not inform them?), a statement notice is fine. Anytime before you make the change.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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