Banks must notify customers ____________ days before lowering rates on deposit accounts or certificates of deposit.

Question

Banks must notify customers ____________ days before lowering rates on deposit accounts or certificates of deposit. ​

Quizplus · Accepted Answer

According to the Truth in Savings Act, banks are required to provide customers with at least 30 days advance notice before reducing rates on deposit accounts or certificates of deposit. This gives customers an opportunity to withdraw their funds or make alternative arrangements if they are not satisfied with the new rates being offered.

Banks Must Notify Customers ____________ Days Before Lowering Rates on Deposit