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#2272017 - 06/23/22 04:32 PM CD special with bump in rate for deposit
Dodge Offline
Gold Star
Joined: Mar 2010
Posts: 268
Management would like to have CD special that has a higher interest rate subject to a customer depositing new funds of $25,000 or more into a checking or savings account. This is new and different. Any compliance or UDAAP concerns?

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Deposits and Payments
#2272018 - 06/23/22 04:35 PM Re: CD special with bump in rate for deposit Dodge
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,361
Galveston, TX
Define "new funds" and what is the purpose of that? I could keep the new funds there for one day, which interest rate shoppers will do.
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#2277099 - 10/26/22 02:19 PM Re: CD special with bump in rate for deposit Dodge
KBeekman Offline
New Poster
Joined: Feb 2021
Posts: 1
Did your bank move forward with this CD special? If so, I would really like to see your ad. Management is looking at something similar.

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