On a quarterly savings statement we paid the customer 3 cents and the examiner said we should of just paid them a little over 2. Our APY was disclosed the same as the rate, so it was understated. It has been a week and our software company has not responded to us yet. How serious can this get?

I don't get it. This isn't serious, but why did the examiner even bring this up?

Sounds like a rounding issue to me. Plus - you over paid the customer - this is one time I would tell the examiner to "get a life". How can you pay "a little over 2"? What is your other option and not "underpay" the customer. If you paid them 2, the examiner could then say you should have rounded up because you "underpaid" the customer. You only have two choices - 2 cents or 3 cents. Try a couple of statments that paid a reasonable interest amount, i.e., $10, and see if there is still a problem.

I agree with rlcarey. Besides the fact that the amount involved is ridiculously small, it is in the customer's favor. In accounts with very low balances, the interest will not be consistent because of the rounding issue and accrual amounts in fractions of cents. Sheesh!