Posted By: Dodge
CD special with bump in rate for deposit - 06/23/22 04:32 PM
Management would like to have CD special that has a higher interest rate subject to a customer depositing new funds of $25,000 or more into a checking or savings account. This is new and different. Any compliance or UDAAP concerns?
Posted By: rlcarey
Re: CD special with bump in rate for deposit - 06/23/22 04:35 PM
Define "new funds" and what is the purpose of that? I could keep the new funds there for one day, which interest rate shoppers will do.
Posted By: KBeekman
Re: CD special with bump in rate for deposit - 10/26/22 02:19 PM
Did your bank move forward with this CD special? If so, I would really like to see your ad. Management is looking at something similar.