No problem with the titling of the account. But that's where it stops. Sweeping OUT of a money market deposit account (aka MMDA) on a daily basis could cause the account to be in violation of Reg D's transfer limits in the definition of savings account in §204.2(d)(2). Customer gets no more than 6 transfers per month.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8