What You'll Learn
The Truth in Savings Act (TISA), and its implementing regulation, Regulation DD, apply to all banks. Regulation DD requires banks to provide disclosures enabling consumers to make informed decisions about their deposit accounts. The disclosures aid comparison shopping by informing consumers about the fees, annual percentage yield, interest rate, and other terms for deposit accounts. This webinar will provide an overview of the Regulation DD disclosure requirements and provide details on compliance. Attendees will improve their understanding of Regulation DD, including what disclosures are required when they must be provided, and how to calculate the annual percentage yield.
About the Author:
Seward & Kissel LLP
Counsel in the Washington, D.C. office of Seward & Kissel LLP
Previously a counsel in the Office of Regulations at the Consumer Financial Protection Bureau
Nationally recognized expert in the structuring of deposit products and regularly advises banks, credit unions, broker-dealers, and financial technology providers on the offering of consumer deposit accounts and certificates of deposit.
Relevant experience includes advising on the design of TISA-compliant account opening procedures, and deposit brokers on the application of TISA advertising requirements. Also advised broker-dealers on regulatory compliance related to deposit accounts held through intermediaries, investment funds, and managers regarding the bank resolution process and treatment of accounts; and major broker-dealers on the structuring of sweep programs and reciprocal deposit arrangements
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