The ExpereOPPSA Deposit area allows you to enter data for a singlepolicy that may be applied to products used in multiple jurisdictions. However, you will want to use your discretion when setting up a single policywith the intention of using it in multiplestates or regions.
Consider the following:
§ Printeddisclosure contentis driven in many cases by the location (the state) of the organization where the disclosure is printed. (The accountdisclosures look to the branch location the user is loggedinto in OPPSA for state law applicability of a transaction.) Where a single policy may be used in multiplejurisdictions, the printedtext may, in some cases, vary from state to state depending on the state the user is logged into when performing the transaction.
Here are some recommendations for managing your policieseffectively:
§ State specific rules alone may not, in some cases, require separatepolicies to be set up, but for ease of managingand maintaining your policies you may want to set up separate policies anyway.
§ For some state- or regional-specific issues that affect setup data, you will see state references in the setup options. In some cases,there may be additional help text describing state specific issues or limitations, some of which may not print if selected and used in another state. In some cases, such differences may warrantthe creation and maintenance of separate policies.
§ Sometimes,the need for different policies may be driven by issues other than legal jurisdiction. Where product offerings or other policy differences apply to differentbranches, it is often necessary to maintain separatepolicies.
§ If you plan to createpolicies that accommodate multiple statesor regions, incorporate into your reviewprocess the printingand review of samplepolicies as they print in each affected region.
When naming your Reg. E, Funds Availability, or Limits and Fees policies,choose a name that reflects any applicability limitations you had in mind when creatingthe policy. This ensures that you and others reviewing or maintaining policies in the future will know the intended scope of the policy. Becausepolicies can be used acrossmultiple organizations, the name shouldpossess unique identifiers that can be linked to aparticular organization. For example, if you do business in Missouri and Kansas and intenda given Reg. E policyto be used only in Missouri, you might name your policy,“EFT Disclosure for Missouri Branches.” (For policies otherthan Truth In Savings, the policy name you choose will not printon the disclosure.)