TISA / Reg DD – What is meant by misleading or inaccurate advertisements?

Compliance > Advertising / Marketing Misc. > TISA / Reg DD
Q:  What is meant by misleading or inaccurate advertisements?
 
A:  Reg. DD rules prohibit misleading or inaccurate advertisements.  This means that an advertisement shall not:
 
(1) Be misleading or inaccurate or misrepresent a depository institution's deposit contract; or
(2) Refer to or describe an account as “free” or “no cost” (or contain a similar term) if any maintenance or activity fee may be imposed on the account. The word “profit” shall not be used in referring to interest paid on an account.
 
 
 

Add Feedback