Skip to content
BOL Conferences Top Gun 23
Thread Options
#299366 - 01/06/05 07:51 PM MMDA Advertisement
Jan94 Offline
Platinum Poster
Joined: Mar 2001
Posts: 828
I found a checklist from another source that indicated that if there are any type of limitations on an account (savings or MMDA) that we are required to disclose that in an advertisement. I don't see that in Reg DD unless I am overlooking it. It would be on the account disclosure but I wasn't sure it needed to be on the ad. Appreciate any help.

Return to Top
#299367 - 01/06/05 09:51 PM Re: MMDA Advertisement
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 39,875
Cape Cod
It's not one of the enumerated requirements. However, someone might consider the limits a critical element of the product and pull in 230.8(a), feeling that omitting it misrepresented the product. One might use "Transfers limited" or similar wording. But I don't think it's truly necessary.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top

Moderator:  Andy_Z, MoneyMaker