Change Log Entries

The effective date for all products within the scope of this document for this release is...

Terms and Conditions: FL Ownership/"Multiple Party Account - Tenancy By the Entirety" option updated

Reference: PBI 298538
Compliance Impact: This enhancement is not a compliance or regulatory issue.
Documentation Impact: No document impact.

The following content has been added to the standard Terms and Conditions/Ownership default text for Florida:

The account is owned by two parties who are married to each other and hold the account as tenants by the entirety

This content appears when creating a Terms and Conditions policy using the Use WKFS proprietary language as a starting point for customization option and a Florida charter.

Mobile Banking Description field resolved

Reference: PBI 305087
Compliance Impact: This defect is not a compliance or regulatory issue.
Documentation Impact: No document impact.

Users reported that text entered in the Mobile Banking Other/Description field did not save.

This issue has been resolved; text entered in the Mobile Banking Other / Description field is now saved.

Truth-In-Savings account disclosures for Time Accounts now provides standard Minimum Balance Accounts option

Reference: PBI 337800
Compliance Impact: This enhancement is not a compliance or regulatory issue.
Documentation Impact: No document impact.

For time accounts (e.g., CDs), the Truth in Savings Policy setup area in the OPPSA policy setup tool has been revised to offer a new option under the miscellaneous Withdrawal Limitations section. The new option allows the user to check a box in order to print a standard provision reserving the right to treat a partial withdrawal as a full withdrawal (and to calculate the early withdrawal penalty accordingly) where the balance would fall below any disclosed minimum. The provision is based on a similar provision we have offered in some of our previous certificate products. Prior to this standard option’s availability, users would generally have availed themselves of the catchall Other Withdrawal Limitations option in order to craft their own provision. That remains an option still for users who prefer a provision that differs from the standard provision. Users wanting to add the new provision can now select this option via the OPPSA policy setup tool for any Truth In Savings – Time policy. Users not wishing to use the new option need not take any action.