We are changing the compounding frequencies of all of our checking and savings products (no certificates). This is for existing and new. We are going from compounding quarterly to compounding monthly. Since this is a positive change should we still provide 30 day notice to the customer? Thanks!

No advance notice is actually required. It will increase the APY and does not negatively impact the customer.

Just update your account disclosures prospectively.

Thank you both. I appreciate this forum opportunity to be able to gain insight from others. It is a huge help when there are no other compliance folks around to talk things over with. Thanks!!