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#106104 - 08/14/03 01:43 PM Deposit account interest adjustment
summer Offline
Junior Member
summer
Joined: Jul 2002
Posts: 37
I didn't find anything in DD or TISA - When we process an interest calculation (due to an error)where a portion or all of the adjustment needs to be posted to the account we are using the overriding description "Interest Adjustment and the start date - end date of the calculation. to process the calculation the start date must be the open date - renewal date- or next day after the last interest payment and the end date is the prior day of the date you are processing the calculation. The true adjustment may be only for a couple of days within the calculation. My question is, should the overriding description read the true adjustment dates or the full month period?

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#106105 - 08/14/03 03:11 PM Re: Deposit account interest adjustment
SJB Offline
Diamond Poster
SJB
Joined: Jun 2002
Posts: 1,210
California
As I recall, TISA and Reg DD don't have restitution provisions like Reg Z does. You simply need to pay what you disclosed. It is probably clearer for the bank and customer if you identify the actual period for which the calculation is made.
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