My bank's disclosures say we will not pay accrued interested if the account is closed before the interest is credited. This is listed under CK and SV accounts. I want to make sure that there is no regulation that requires us to pay accrued interest on SV accounts closed before posting?

I haven't been able to find anything - does anyone know of a federal requirement (or state requirement) to payment accrued but uncredited interest on savings accounts?

I believe that the only requirement is for you to disclose what it is that you do.

That's what I thought too...and I've been searching our state and federal regs but I haven't been able to find anything.

12CFR230.4(b)(2)(ii) Effect of closing an account. If consumers will forfeit interest if they close the account before accrued interest is credited, a statement that interest will not be paid in such cases

If the consumer is not to receive the accrued interest, you must mention it in your TISA disclosure. If your disclosure is silent, the consumer is entitled to the accrued interest.

There is no other federal guidance regarding the treatment of accrued interest.

There is that little wrinkle in the Commentary to Regulation DD, section 230.4(a)(1), which requires the delivery of new account disclosures when

"[a]n institution accepts a deposit from a consumer to an account that the institution had deemed closed for the purpose of treating accrued but uncredited interest as forfeited interest."