Reg. DD provides the bank the option to either pay or not pay accrued but unearned interest when a consumer closes an interest bearing account. Someone at our new bank in SC stated that they "thought" that SC made banks pay this accrued but unearned interest when the amount is greater than $5.00. Is this correct? If so, is there a cite for this? Thank you!
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- Frederick Douglass
My Opinion Only.