Posted By: Multiple Hats

## Reg DD Rounding rules for rates & yields - 11/06/15 08:02 PM

Regulation DD - 1030.3 (f) Rounding and accuracy rules for rates and yields. Rates should be rounded to the nearest one-hundredth of one percentage point (.01%) and expressed to two decimal places. For account disclosures, the interest rate may be expressed to more than two decimal places.

We have a checking account with a rate of .049% and APY of .05%

Advertisements, rate sheets given to customers and listed on our website should show a rate of .05% and APY of .05% according to 1030.3(f). However, the new account disclosure should show .049% with an APY of .05%.

Am I reading this correctly? It seems deceptive to give a customer something with .049% that changes to .05% on the actual disclosure.

We have a checking account with a rate of .049% and APY of .05%

Advertisements, rate sheets given to customers and listed on our website should show a rate of .05% and APY of .05% according to 1030.3(f). However, the new account disclosure should show .049% with an APY of .05%.

Am I reading this correctly? It seems deceptive to give a customer something with .049% that changes to .05% on the actual disclosure.