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

Compliance > Advertising / Marketing Misc. > TISA / NCUA
Q:  What is meant by misleading or inaccurate advertisements?
 
A:  NCUA TISA rules prohibit misleading or inaccurate advertisements.  This means that an advertisement shall not:
 
(1) Be misleading or inaccurate or misrepresent a credit union's account agreement; 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” must not be used in referring to dividends or interest paid on an account.
 
 
 

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