Other than the Truth in Savings Act/Regulation DD restrictions on bonuses paid on savings accounts, we are not aware of any other restrictions on premiums offered on new accounts. Regulation DD requires that any advertisement of a bonus also include the following information, stated clearly and conspicuously:
(1) The “annual percentage yield,” using that term;
(2) The time requirement to obtain the bonus;
(3) The minimum balance required to obtain the bonus;
(4) The minimum balance required to open the account, if it is greater than the minimum balance necessary to obtain the bonus; and
(5) When the bonus will be provided.
Further, Regulation DD requires that bonus information be included in your new account disclosures. 12 CFR 1030.4(b)(7).