Description
1:10min | Credits: 1.50 CERP, CRCM
This course introduces Reg DD and the Truth in Savings Act (TISA), which govern a financial institution’s presentation of deposit accounts to consumers.
The regulation covers everything from marketing a deposit account to disclosures when accounts are opened or changed—the entire life cycle of the account.
Disclosures include fees for deposit accounts, interest rates, annual percentage yields, and other account terms that are required by the regulation.
Audience: Compliance and risk management professionals including compliance managers, officers, and other team members whose primary role is within the compliance function at their financial institution; bank examiners, bank regulators, and auditors.
Learning Objectives
After completing this course, students will be able to:
- Explain the purpose of TISA and its amendments and identify the types of institutions and accounts covered under Reg DD
- Describe general disclosure requirements under Reg DD
- Describe specific account disclosure requirements under Reg DD, including timing of delivery
- Explain Reg DD disclosure requirements relating to periodic statements and payment of interest
- Describe additional disclosure requirements for overdraft services
- Describe advertising requirements and records retention requirements under Reg DD