The Consumer Financial Protection Bureau (CFPB) is requesting public comments on various aspects of the consumer credit card market. This is pursuant to the biennial review required by Section 502 of the <\/span>Credit Card Act of 2009<\/span><\/i> (P.L. 111-24; signed into law on 05\/22\/09).<\/span><\/p>\n Comments are requested on the areas listed below.<\/span>[\/vc_column_text] Reference: Federal Register; January 27, 2023: pp. 5313-5315<\/span><\/i>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left” css=”.vc_custom_1675960185212{margin-bottom: 0px !important;}”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][nectar_gradient_text heading_tag=”h2″ color=”extra-color-gradient-2″ gradient_direction=”diagonal” text=”Compliance Questions & Answers”][vc_column_text css=”.vc_custom_1678298683972{margin-bottom: 0px !important;padding-bottom: 0px !important;}”]\n A bank would like to offer a limited time certificate of deposit special. When it comes to advertising on the bank\u2019s website, would it be acceptable to include the \u201ctriggered terms\u201d in a link or do they need to be on the same screen with the annual percentage yield (APY)? For example, the \u201ctriggered terms\u201d could be accessible by clicking on the link labeled \u201cDisclosure.\u201d<\/p>\n Linking to the additional required terms is allowed, but the link must take the consumer directly to the additional information (not some chain of multiple links to get there). Also, just labeling the link as \u201cDisclosures\u201d might not be clear enough to at least some average consumers. It might be better to have something like, \u201cFor additional information, click here\u201d with the link embedded in the last word.<\/p>\n Does a business customer that is a DBA with an Employer Identification Number (EIN) still qualify for a NOW account? Normally, DBAs are registered under the owner\u2019s Social Security Number (SSN).<\/p>\n Whether an SSN or EIN is used for the account is not the governing issue. The key is whether the DBA is a sole proprietorship or not. If it is, it qualifies for a NOW. If it is a partnership or a corporation (Inc., LLC.) it does not qualify for a NOW, but does for an interest-bearing DDA, as does anyone.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":" The FDIC approved a final rule to increase initial base deposit insurance assessment rates by 2 basis points.<\/p>\n","protected":false},"author":3,"featured_media":1412,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[103],"tags":[],"class_list":{"0":"post-1411","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-compliance-security-updates"},"yoast_head":"\n\n
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Question \/ TISA.<\/h3>\n
Answer.<\/h3>\n
Question \/Regulation D.<\/h3>\n
Answer.<\/h3>\n