I. INTRODUCTION
Several federal consumer regulations require that a bank post signs, posters, or other disclosures for the public to view in the bank lobby or other public areas. At times, bankers have asked for a list of required disclosures to make sure the bank meets the regulatory “posting” requirements. The following is a list of the most common consumer regulations providing for some sort of public posting.
II. COMMUNITY REINVESTMENT ACT (CRA)
A bank must provide in the public lobby of its main office and each of its branches the appropriate public notice stating the prescribed language as set forth in the regulation. There is a notice form for main offices and (if an interstate bank) one branch office in each state as well as a notice form for branch offices of the bank. Only a branch of a bank having more than one assessment area will include the bracketed material found in the notice language of the regulation pertaining to branch offices. Only a bank that is an affiliate of a holding company will include the next to the last sentence of the regulatory prescribed notice. A bank will include the last sentence of the notice only if it is an affiliate of a holding company that is not prevented by statute from acquiring additional banks. Notices need not be displayed at off-premises ATMs. See, Appendix B to 12 C.F.R. pt. 228 and 12 C.F.R. § 228.44 for the Federal Reserve Board Regulation BB; Appendix B to 12 C.F.R. pt. 25 and 12 C.F.R. § 25.44 for the OCC regulation; and, Appendix B to 12 C.F.R. pt. 345 and 12 C.F.R. § 345.44 for the FDIC regulation.
III. EXPEDITED FUNDS AVAILABILITY ACT
A bank must post, at a conspicuous place at each location where its employees receive deposits to consumer accounts, a notice that sets forth the time periods applicable to the availability of funds deposited. The notice is not required to be posted at each teller window, at a drive-up facility, or at a night depository. See, 12 C.F.R. § 229.18(b).
A bank must post or provide a notice at each ATM location that funds deposited in the ATM may not be available for immediate withdrawal. A bank operating an off-premises ATM from which deposits are removed not more than two times each week, must disclose at or on the ATM the days in which deposits made at the ATM will be considered received. See, 12 C.F.R. § 229.18(c).
A bank must disclose its specific funds availability policy to customers in clear and conspicuous writing. Disclosures, other than those posted at locations where employees accept consumer deposits, at ATMs or on preprinted deposit slips must be in a form that the customer may keep. See, 12 C.F.R. § 229.15(a).
IV. TRUTH-IN-SAVINGS ACT (TISA)
The Truth-in-Savings Act and its implementing regulation (Federal Reserve Board Regulation DD) regulates indoor signs such as a “rate board” or “lobby sign” relating to deposit products. If an indoor sign states a rate of return on an account, it shall state the rate as an annual percentage yield, using that term or the term “APY.” The sign must not state any other rate, except that the interest rate may be stated in conjunction with the annual percentage yield to which it relates. An indoor sign must also contain a statement advising consumers to contact an employee for further information about applicable fees and terms. The term “Member FDIC” should also be displayed. No other information is required unless the sign faces outside the premises and can reasonably be viewed by a consumer only from the outside. If the sign can reasonably be viewed by a consumer only from the outside, then the sign must additional contain a statement on variable-rate accounts, the time the APY is offered or a statement that the APY is accurate as of a specified time, minimum balance requirements, if any, and tiered-rate account information with the balance required for each tier, any time requirements for time accounts, a statement that fees could reduce earnings on the account, and a disclosure that a penalty for early withdrawal will or may be imposed. See, 12 C.F.R. § 230.8 (b), (c), (d), (e)(1) and (e)(2).
Each federal regulator requires that a bank display an “Equal Housing Lender” poster in the public lobby area of the bank where deposits are received or where home loans are made in a manner clearly visible to the public entering such areas. The language of the poster is prescribed in the regulation and it must provide the name and address of the bank’s primaryfederal regulator. The poster need not be displayed at ATMs or drive-up windows. See, 12 C.F.R. § 338.4 for the FDIC regulation and 24 C.F.R. § 109 for the HUD regulation applicable to national banks and state member banks.
VI. FINANCIAL DISCLOSURE STATEMENTS
Banks are required to make available to the public certain bank call report information. The information is derived from the last two year end call reports. The bank must display in the lobby of its main office and at each branch, a notice that such annual disclosure statement may be obtained from the bank. A disclaimer must be included stating that “This statement has not been reviewed, or confirmed for accuracy or relevance, by (the institution’s regulatory agency).” A bank officer must sign the statement, attesting to the correctness of information contained therein. See, 12 C.F.R. § 208.17 of Federal Reserve Board Regulation H, 12 C.F.R. pt. 350 of the FDIC Regulations, or 12 C.F.R. § 18 of the OCC Regulation.
VII. HOME MORTGAGE DISCLOSURE ACT (HMDA)
HMDA does not apply to all banks. Exempted banks are those that have neither a home office nor a branch office in a Metropolitan Statistical Area (MSA) nor assets below the “asset threshold” established by the Federal Reserve Board. If a bank is subject to HMDA, it must collect data regarding applications for home purchase and home improvement loans and the refinancing of such loans, on a Loan Application Register (LAR). A report is submitted on an annual basis. A bank covered by HMDA must post a general notice regarding the availability of its LAR in the lobby of its home office and a branch office located in a MSA. When requested, the bank must provide the location of the bank’s offices where the LAR is available. The bank may disclose the location of the LAR in its public notice. See, 12 C.F.R. § 203.5(b) of Federal Reserve Board Regulation C.
VIII. FDIC REQUIRED SIGNS
In general, each bank must display a FDIC sign or logo wherever deposits are accepted by the bank. FDIC signs are to be placed at each teller window, drive-up windows and at night depositories. FDIC signs are not required to be placed on ATMs. If a non-teller bank officer receives deposits in their offices, the rule would require a FDIC sign to be placed in these offices. There are several exceptions to the FDIC sign rules and the specifics of the rules should be reviewed by the bank. See, 12 C.F.R. pt. 328 of the FDIC Regulations.