IBA Compliance Connection

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We are revising our TISA disclosures for tiered-rate savings accounts. Where does it state that we are required to disclose both the interest rate and APY for each tier, and where can we find the model clauses for tiered-rate accounts?

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Regulation DD requires you to disclose both the interest rate and APY for each specified balance level for tiered-rate accounts. Regulation DD also provides model clauses for tiered-rate account disclosures in Appendix B.

For resources related to our guidance, please see:

  • Regulation DD, Official Interpretations, 12 CFR 1030, Paragraph 4(b)(1)(i), Comment 3 (“Each interest rate, along with the corresponding annual percentage yield for each specified balance level (or range of annual percentage yields, if appropriate), must be disclosed for tiered-rate accounts. (See appendix A, Part I, Paragraph D.)”)