We have a bounce protection program that kicks in after 60 days.

We have a promotional brochure that spells out the program per 230.11 (b)(1) requirements. This brochure is handed to customer at account opening along with all other regulatory required disclosures applicable


A sr. management official saw that one branch wasn't handing out the bounce protection brochure at account opening and went ballistic claiming that it is a requirement for the brochure to given to the customer at account opening.

Here's my question. All that the 230.11 b disclosure requirements mean is that they should be included in any brochure we hand out....it doesn't mean it's a requirement for this particular brochure to be given to the customer....right?

If you have an ODP program, you must disclose per 230.11 (b)(1). As for 'this particular brochure' be given to the customer, I would contend that your policy might determine this. But if 'this particular brochure' is the only place you are making the required disclosure, then why wouldn't you give it out? I concur with your Sr. Management.