A Sneek Peek At Our Up Coming Webinar July 22

Here is just a brief glimpse of what will be covered in Blair Rugh's presentation on the The Ins and Outs of Bank Advertising Tuesday July 20 From 3-4 p.m. Central.


Register Now To Reserve Your Spot!

Now we get into the harder stuff. Let’s discuss Regulation DD and the advertisement ofdeposit products first. The general advertising rules of Regulation DD are in Section 230.8of the regulation. First they require that an advertisement not be inaccurate or deceptive, basically the same requirement as the FTC rule. Next they prohibit advertising an account as “free”, “no cost” or any similar term of any maintenance or activity fee may be charged to the account. A maintenance or activity fee is a charge that is imposed even though the customer did not violate any of the account terms or request any additional service. Examples are a minimum balance fee, a transaction fee or a monthly service charge. Charges imposed because a customer requested an additional service such as check printing fees, stop payment fees, a balance inquiry fee or fees for electronic access to the account such as an ATM fee or a fee for electronic banking are not maintenance or activity fees. Similarly fees charged for violating the terms of the account, such as an NSF or overdraft fee or a dormant account fee are not maintenance or activity fees. If a particular aspect of an account is free an advertisement may say so even though the account itself may not be advertised as free. For example if a bank offers free bill payment an advertisement could state that even though there were maintenance fees charged to the account. If an account is free for a limited period of time an advertisement may state that provided that the advertisement also states the time period for which the account is free. If an account is free based on a condition that has nothing to do with the account then an advertisement may state that. For example if you have a deposit account where you waive all fees for senior citizens you could advertise “Free for persons age 55 and older” even though you impose
fees on persons younger than that. The person’s age has nothing to do with the account. On the other hand if you waive fees if the customer maintains a certain balance you could not advertise the account as free if that balance is maintained. You could state that no fees would be imposed if the balance is maintained but you could not use the term “free”.

Cost is $95 for TriNovus Customers and $125 for non-customers.