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#42146 - 11/11/02 05:50 PM Reg DD - Changing Interest Rate Tiers
NMB Offline
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Joined: Jun 2002
Posts: 255
Southeast Michigan
I would appreciate confirmation.

If I am reading the Staff Commentary correctly, when making changes to the tier level definitions for an interst checking account, we must give the 30 days advance notice.

Current tiers:$ 0 - $ 999
$ 1000 - $ 9999
$ 10000 - $ 49999
$ 50000 - $ 149999
$150000 and over

New tiers $ 0 - $ 999
$ 1000 - $ 9999
$ 10000 - $ 74999 <== changes
$ 75000 - $ 149999 <== changed
$150000 and over

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General Discussion
#42147 - 11/11/02 05:57 PM Re: Reg DD - Changing Interest Rate Tiers
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,748
On the Net
Yes, changing the rates wouldn't require advance notice, changing the tiers would.

(Assuming you disclosed variable rates. 230.5(a)(1)-(2).
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AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
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#42148 - 11/11/02 06:14 PM Re: Reg DD - Changing Interest Rate Tiers
NMB Offline
Gold Star
Joined: Jun 2002
Posts: 255
Southeast Michigan
Thanks, Andy.
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My comments and opinions are my own, not my employer's.

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