We are considering combining demand deposit and savings statements, but not changing the quarterly payment of interest on savings accounts (calendar quarter). That means that the demand deposit statement may cycle during the month, but a payment of interest on savings would be made at month-end each quarter.

Is there a compliance issue here, e.g. need to issue statement when interest is paid? I'm thinking that there may be customer confusion, so the monthly payment of interest, on savings accounts, is also being considered.

Input/insight would be appreciated.

Won't the statement history show the date and amount the of interest as well as the APY for the applicable account(s)?

We haven't gone to this yet, but I know many others have. So long as the statement requirements are met in "DD", you should be fine. There are no special rules requiring segregation.

Thanks for the reply, Andy.

The statement will show the interest payment separately, and APY, so it looks like we will be O.K.