FDIC FAQs-Are there any specific requirements regarding the timing, form and/or content of the 12 cfr 330.16(c)(3) notice to depositors?

Compliance > Deposit Operations > FDIC FAQs on Insurance and Payment of Interest on Demand Deposit Accounts

Q:  Are there any specific requirements regarding the timing, form and/or content of the

12 C.F.R. § 330.16(c)(3) notice to depositors?

A:  No. Although notifications are mandatory, 12 C.F.R. § 330.16(c)(3) does not impose

specific requirements regarding the timing, form and/or content of the notice. Rather, the

FDIC expects IDIs to act in a commercially reasonable manner and to comply with

applicable state and federal laws and regulations in informing depositors of changes to their

account agreements.



This can be found in - FAQ#32 of FDIC’s FAQs.  FDIC’s FAQs can be found at: http://www.fdic.gov/deposit/deposits/unlimited/faq.pdf

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