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.