Reg DD- Maturity date on CD

Posted By: txgal, CRCM

Reg DD- Maturity date on CD - 08/27/09 09:03 PM

On the TIS disclosure for CDs does the actual maturity date need to be stated on the disclosure itself or can you just disclose the time period? Thank you!
Posted By: Skittles

Re: Reg DD- Maturity date on CD - 08/27/09 09:22 PM

This was taken from Regulation DD:

(6) Features of time accounts. For time accounts:
(i) Time requirements. The maturity date.

Hope this helps.
Posted By: txgal, CRCM

Re: Reg DD- Maturity date on CD - 09/11/09 05:57 PM

Can the maturity date just be stated on the CD coolcertificate itself or does it specifically have to be on the TISA disclosure?
Posted By: M Cockrell

Re: Reg DD- Maturity date on CD - 09/11/09 06:09 PM

on the disclosure

see 230.4(b)(6)(i)
Posted By: Deena

Re: Reg DD- Maturity date on CD - 09/11/09 06:09 PM

If the consumer can keep the "CD certificate," then it would be fine to have the maturity date on there. The required initial disclosures can be on separate pieces of paper.

See section 230.3(a) and its Commentary.