Regulatory Alerts2016-11-14
Recommendation 2016-R-03 of November 14, 2016, on advertising communications for savings accounts
The ACPR issued Recommendation 2016-R-03 to establish good practices for advertising communications regarding savings accounts outside regulated savings. The document mandates that all promotional materials must adhere to principles of clarity, accuracy, and fairness, ensuring a balanced presentation of both advantages and restrictive conditions. It specifically requires clear disclosure of interest rates, fees, eligibility criteria, and the distinction between promotional and base contract rates to prevent consumer misleading.
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