A CD matures and customer wants to renew CD but wants to take out some funds. We do not provide a new CD. We do an internal change form that we send to Operations and provide a copy of the change form to the customer. Are we 'OK' by not providing a new TIS disclosure?
Posted By: rlcarey
Re: TIS and change to renewing CD - 08/08/14 06:55 PM
What terms required to be disclosed under Reg. DD changed from those that were included in the renewal notice???
Posted By: SouthoftheBorder
Re: TIS and change to renewing CD - 08/08/14 07:28 PM
If we give a different rate/term as disclosed on the renewal notice is a new TIS required.
Posted By: rlcarey
Re: TIS and change to renewing CD - 08/09/14 01:35 PM
Yes. It is no longer the same CD.