Banks must notify customers _____ days in advance before lowering rates on deposit accounts or certificates of deposit (CDs).

Question

Banks must notify customers _____ days in advance before lowering rates on deposit accounts or certificates of deposit (CDs).

Quizplus · Accepted Answer

As per the Truth in Savings Act, banks are required to provide customers with a notice at least 30 days prior to any decrease in interest rates on deposit accounts or CDs. This helps customers to make an informed decision about their money and take necessary actions if required.

Banks Must Notify Customers _____ Days in Advance Before Lowering Rates