By stating the APY, you trigger further disclosures. Section 230.8(c) of Regulation DD provides a list of triggered disclosures; however, radio advertisements are exempt from many of them [as noted in Section 230.8(e)]. Therefore, you only need to provide the following:
- The minimum balance required to obtain the APY (for tiered-rate accounts, the minimum balance for each tier must be stated with the APY), and
- For time accounts - the term of the account.
First published on BankersOnline.com 1/22/07