Marketing Compliance
MC-03Use only approved deposit-insurance, credit, and structure language
How Leela would run itEvent-driven · each material that mentions insurance, a rate, a fee, a payment term, or the bank relationship, before publication
From the policy libraryThe requirement
Any statement about FDIC insurance coverage goes to the sponsor bank before use, says clearly and next to the statement that the Company is not an insured depository institution and that coverage protects only against the sponsor bank’s failure, and states the coverage limits. Where the program offers credit or deposits, any triggering term is accompanied by the disclosures Regulation Z or Regulation DD requires, and rates are stated as an annual percentage rate or annual percentage yield. Materials never present the Company as a bank or the issuer of accounts. Any deviation from the pre-approved language requires fresh sponsor bank approval.
- Applies
- Tell Leela about your company to see whether this applies.
- Status
- Setup needed
Tell Leela how you handle it today, or hand it over: see what’s next.
The work
Insert the pre-approved disclosure block for the product, check the material for triggering terms and for any wording that implies the Company is a bank, and send any new or changed disclosure language to the sponsor bank before use.
What Leela keepsThe evidence this obligation leaves, as the work happens
Listed from the policy libraryContents
- 01Pre-approved language libraryEach disclosure block with the bank’s approval date and version
- 02Disclosure checkPer material: triggering terms found, disclosure block used, deviation approvals
Evidence
Pre-approved language library
Marketing Compliance §5.2, §5.3, §5.8
2
of 2 records
The work and the records come from this obligation in the policy library.