You will have to provide them full account disclosures under Regulation DD 30 days prior to the conversion for any change in terms that are required to be disclosed under 12 CFR 1030.4.
Info In Letter for Switch to Super NOW Accounts
We will be sending letters to our customers with grandfathered NOW accounts informing them that accounts will be switched to Super NOW accounts, regular checking accounts, etc. What information is required in the letter we provide to the customer, and is there a timing issue?
First published on 11/22/2015