Understanding change notices in your deposit disclosure strategy

In today’s dynamic regulatory environment, financial institutions must remain agile and transparent in how they communicate changes to account terms and conditions. Change notices are a critical component of a robust deposit disclosure strategy, ensuring that account holders are promptly informed of updates that may affect their rights, responsibilities, or account usage. These notices not only support regulatory compliance but also foster trust and clarity between institutions and their customers. Wolters Kluwer’s integrated approach—through solutions like the Deposit and IRA Document Suite (DIDS) — streamlines the creation and delivery of change notices, helping institutions maintain consistency, reduce risk, and stay ahead of compliance deadlines

Here to help you stay in compliance with the latest deposit regulations!

At Wolters Kluwer, we are committed to keeping you stay informed and compliant. Our team constantly monitors regulatory changes at state and federal levels, along with case laws, industry trends, and regulatory guidance. This focus on compliance helps us stay ahead of changes and updates and helps us keep our content current..

Deposit solutions

Wolter Kluwer’s deposit solutions free banks and credit unions from the hassle of continually monitoring regulatory changes across multiple jurisdictions to keep your deposit content up to date. Whether your institution is better suited to tailored disclosures, in need of consistent content across channels like online account opening, or just want to ensure you’re up to date and compliant—let's talk!

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Want to research solutions now? Here are a few of our deposit solutions to get you started: 

Forms/documents for banks and credit unions

We provide a comprehensive library of content, from account opening disclosures to servicing documents — whether standardized or customized to your institution. We’ll guide you through the entire process, including identifying the content you need, assistance through our expert editor team, and guidance determining the best delivery method (paper or electronic form). We're here to assist you every step of the way!

DIDS – Deposit and IRA document suite

DIDS is a one-stop shop for all of your content needs, including full access to both tailored and static content available in multiple formats (paper or electronic.)



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Best in class Document Mailing Services

Let Wolters Kluwer support your change efforts with Document Mailing Services you can trust. With a 99.9 percent accuracy, print, assemble, manage and distribute documents with ease through our fulfillment center.
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Additional resources:

The true value of change notice

From policy changes to case law rulings, safeguard your financial institution by recognizing the importance of a change notice and when you're obligated to send them.

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Terms and Conditions product sheet

Mitigate potential risks by updating your Terms and Conditions. Track regulation changes, case laws, and customer feedback to ensure compliance certainty for your institution.

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Recorded webinars: 

Deposit Account Terms and Conditions: 2023 Updates Webinar

Terms & Conditions industry update webinar 

Shortly following our spring webinar (below), significant case law came out of the Indiana Supreme Court, driving Wolters Kluwer to make additional revisions to our Terms & Conditions. This webinar reviews Indiana case law and covers additional topics such as fraud mitigation, arbitration, and the best practices of sending a change notice.

Deposit Content with Terms & Conditions Spotlight Webinar

Deposit content with terms & conditions spotlight webinar

This 45-minute webinar provides a review of recent changes to our Deposit Account Terms and Conditions (T&C). In addition, we discussed hot topics like overdrafts/NSF fees and the risks of charging overdraft fees on APSN (Authorize Positive Settle Negative) transactions.

We also dove into the following:

  • Why it's important to send a change notice;
  • The complexities and risks of not doing so; and
  • How "doing what you say you do" can help you avoid UDAAP claims.
Navigation Reg CC: Why early preparation is key on-demand webinar

Navigating Reg CC: Why early preparation is key


Learn from Wolters Kluwer’s compliance professionals how to navigate the mandatory updates to ensure compliance with Reg CC, lead your financial institution through these regulatory changes, and discover how proactive planning can help your financial institution stay ahead of the curve.

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Watch On-Demand

Expert insights: 

  • Crowded Office Buildings at Night Shanghai, China,
    Article
    ComplianceApril 18, 2023
    Overdraft and NSF fees continue to draw the ire of regulators as the CFPB escalates its scrutiny of so-called “junk fees”
    By: Karl Leslie, J.D., MBATherese Kieffer J.D., CRCM
    Karl Leslie and Therese Kieffer's published article in BankingExchange.com looks at increased U.S. regulatory scrutiny--and ire-- over overdraft and non-sufficient funds "junk fee" practices.
    Learn More

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