Thirty Second Ad vs. Sixty Second Ad

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Question:

What is the difference between legal requirements for a thirty versus a sixty-second ad for deposits? What disclosures do we have to include?

Answer:

For TV or radio ads of 30 seconds or less, the FDIC membership statement is not required. For nondeposit investment products, the NDIP disclosure is not required for radio ads of 30 seconds or less (such disclosures would still be required for TV ads, but don't necessarily need to be verbal).

FRB Regulation DD specifies certain required disclosure elements if an advertisement states an Annual Percentage Yield. These are listed at 230.8(c) and (d). However certain of these disclosures do not need to be provided if the advertisement is in broadcast media (such as radio or TV). These are listed in 230.8(e)(1).

First published on BankersOnline.com 12/04/06