(Last Modified: October 28, 2024)
R&T Deposit Solutions’ Services
Reich & Tang Deposit Networks, LLC, Reich & Tang Deposit Solutions, LLC and Total Deposits Solutions, LLC (each d/b/a R&T Deposit Solutions) and Stable Custody Group II LLC, each a Delaware limited liability company and/or their affiliates (together, “R&T”, “us”, “our” or “we”) provide administrative, recordkeeping, agency and/or other related services to banks, credit unions, trust companies, wealth management firms, broker-dealers and other institutions with respect to sweep and deposit placement programs, including the Demand Deposit Marketplace® program (“DDM® Program”), the Certificate of Deposit Marketplace ExchangeSM program (“CDMXSM Program”) and R&T Insured Deposits program (“RTID® Program”) (each, a “Program”), as well as other services. The DDM Program and CDMX Program are administered by Stable. The RTID Program refers to both (i) the RTID program administered by Reich & Tang Deposit Solutions, LLC and (ii) the Insured Deposits Program (“IDP”) administered by Total Deposits Solutions, LLC (sometimes referred to as the ‘RTID (Legacy IDP)’ program).
R&T offers and provides administrative, recordkeeping, agency and/or other services to its clients, which are banks, credit unions, trust companies, wealth management firms, broker-dealers and other institutions that enter into a written agreement with R&T for those services (“Clients”). R&T’s services are provided subject to the terms and conditions of the written agreements entered between R&T and its Client, and R&T provides no representations or warranties, express or implied, except as expressly set forth in those written agreements. R&T does not offer or provide products, programs or services to consumers or to any of our Client’s customers (“Customers”) (subject to the R&T Portals section below). The services offered by R&T are only available to Clients that are located in the United States of America. References to programs administered by R&T or to R&T’s services on our public website (at www.rnt.com) (“Website”) or in marketing or other materials should not be considered a solicitation to buy products or services or an offer to sell products or services to any person. These Legal Disclosures and information provided on the Website regarding the Programs and R&T’s services is not intended to, and does not, take the place of the written agreements between R&T and its Client or the written program terms & conditions and disclosures provided by our Clients to its Customers. Eligibility for certain programs and services may vary.
Important Legal Disclosures:
R&T is not an FDIC or NCUA-insured institution. FDIC and NCUA insurance only covers the failure of an FDIC or NCUA-insured institution, respectively. Certain conditions must be satisfied for FDIC and NCUA pass-through deposit insurance coverage to apply. Click for a list of the FDIC and NCUA-insured institutions with which R&T has a direct or indirect business relationship for the placement of deposits under a Program, and into which a participating institution may place deposits (subject to the terms of the Programs and any opt-outs by the participating institution Client and/or its Customers). While each Program provides access to an expanded level of deposit insurance coverage on funds swept or placed into deposit accounts under the Program (subject to Program terms and conditions and applicable laws, regulations and guidance, including pass-through deposit insurance coverage requirements), the Programs, themselves, as well as R&T’s other service offerings, are not insured or guaranteed by the FDIC or NCUA, are not deposits and may lose value in certain circumstances as described in the Program/service terms. R&T is not a division of the FDIC or NCUA, R&T is not associated with the FDIC or NCUA and R&T is not insured by the FDIC or NCUA. “FDIC” means the Federal Deposit Insurance Corporation. “NCUA” means the National Credit Union Administration.
The Programs
R&T provides administrative, recordkeeping, agency and/or other services to its Clients with respect to each Program, subject to R&T’s written agreements with its Clients. Stable is not a bank, credit union, broker-dealer, or investment adviser. Stable does not provide any investment-related advice or make any recommendations to Clients or their Customers.
R&T’s Client may offer the Program to its Customers, subject to the Program Customer Terms & Conditions and other Program requirements and disclosures provided to those Customers. Customer is a customer of Client and does not have, and nothing (including Customer’s access to and use of a Customer Portal, defined below, which is powered by R&T) creates any customer or other direct, indirect or third-party beneficiary relationship between Customer and R&T or any duty or obligation (express or implied) owed by R&T to Customer, including any fiduciary or disclosure obligations.
The Program is not an investment product. While customer interest rates obtained on funds placed into the Program may, under certain circumstances, outperform cash alternatives, such as money market funds, the primary objective of the Program is to provide Customers with convenient access to expanded deposit insurance coverage on their funds (and not for investment enhancements, or higher rates of returns or profits).
If any Client or Customer is subject to any laws, regulations, restrictions or other requirements on the placement or deposit of their funds, such as a law governing municipal or government agency deposits, that Client or Customer is solely responsible for determining whether its participation in the Program satisfies those laws, regulations, restrictions or requirements and for complying with them.
R&T makes no representations or warranties, express or implied, with respect to a bank or financial institution’s classification of deposits as brokered or not brokered. Such determinations are entirely and solely the responsibility of that bank or financial institution.
R&T’s Public Website
R&T’s public website, located at www.rnt.com, is offered, and may only be accessed and used, subject to the Website Terms of Use and our Privacy Policy as those document are posted on that website from time to time.
R&T Portals
R&T may permit Client to access and use a website portal or platform relating to a Program, such as the Customer Access Portal (CAP) and Deposit Management Service (DMS) portals (a “Client Portal”). In addition, R&T may power website portals or platforms that may be offered by a Client to its eligible Customers with respect to a Program provided by Client to its Customers, such as the DepositView® portal (each, a “Customer Portal”). A Client Portal and Customer Portal is each referred to as an “R&T Portal”.
As between R&T and its Client, access to and use of an R&T Portal is governed by the documents as set forth in the terms and conditions for use of the R&T Portal (as set forth on that R&T Portal), if any (“Portal T&Cs”) (and the order of precedence shall be as set forth in those terms and conditions). If not set forth in the Portal T&Cs, access and use shall be governed by and are subject to (i) the Portal T&Cs, (ii) the applicable written participating institution or services agreement entered into between R&T and our Client with respect to services provided by R&T to its Client (“Service Agreement”), (iii) our Privacy Policy (https://rnt.com/privacy-policy/) (“Privacy Policy”) and (iv) our Legal Disclosures (https://rnt.com/disclosure/) (“Legal Disclosures”). Such documents constitute the sole and entire agreement between R&T and its Client regarding access and use of the R&T Portal and supersede all prior and contemporaneous understandings, agreements, representations, and warranties, both written and oral, regarding any relationship you have with R&T with respect to the R&T Portal. To the extent of inconsistency between those documents (i) with respect to privacy-related matters, the order of precedence shall be our Privacy Policy, the Portal T&Cs, the Service Agreement, and our Legal Disclosures and (ii) otherwise, the order of precedence shall be the Portal T&Cs, the Service Agreement, our Legal Disclosures and our Privacy Policy.
As between R&T and a Customer, access to and use of any Customer Portal powered by R&T is governed by the documents as set forth in the Portal T&Cs (and the order of precedence shall be as set forth in those terms and conditions). If not set forth in the Customer Portal, access and use shall be governed by the Portal T&Cs, our Privacy Policy and our Legal Disclosures. Such documents constitute the sole and entire agreement between R&T and Customer regarding access and use of the Customer Portal and supersede all prior and contemporaneous understandings, agreements, representations, and warranties, both written and oral, regarding any relationship you have with R&T with respect to the Customer Portal. To the extent of inconsistency between those documents (i) with respect to privacy-related matters, the order of precedence shall be our Privacy Policy, the Portal T&Cs and our Legal Disclosures and (ii) otherwise, the order of precedence shall be the Portal T&Cs, our Legal Disclosures and our Privacy Policy.
As between a Client and its Customer, access to and use of the Customer Portal is governed by the Program customer terms and conditions, authorizations and written agreements between Client and Customer.
No Legal, Investment or Other Professional Advice
R&T does not offer or provide, and nothing (including on our public website at www.rnt.com) shall be construed as R&T providing, any tax, accounting, investment, legal or other professional advice or recommendation. Also, nothing shall be construed as being an offer to sell or a solicitation of an offer to buy any deposit account or security. Without limiting the foregoing, R&T does not offer or provide any professional, legal or investment advice or recommendation regarding the nature, potential value, or suitability of any particular program, product, service, transaction, investment strategy, or other course of action by a person, including any Client or Customer. Prior to the execution of any transaction involving information received from or through R&T (including on R&T’s public website at www.rnt.com), the person should consult its financial, business, legal, tax and accounting advisors and/or attorney with respect to the price, suitability, value, risk or other aspects of any program administered by R&T or any product or service provided by R&T.
Forward Looking Statements
Certain information in marketing or other materials (including on R&T’s public website at www.rnt.com) or a R&T Portal) may contain certain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe,” “expect,” “anticipate,” “optimistic,” “intend,” “aim,” “will” or similar expressions are intended to identify forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements. Any dated information is published as of its date only. Dated and forward-looking statements speak only as of the date on which they are made. We undertake no obligation to update or revise any dated or forward-looking statements.
R&T’s Marks
R&T®, Reich & Tang®, Demand Deposit Marketplace®, DDM ®, DepositView® and RTID® are registered marks of Reich & Tang Deposit Networks, LLC (d/b/a R&T Deposit Solutions). TBS Verify® and TBS Bank Monitor® are registered marks of Total Deposit Solutions, LLC (d/b/a R&T Deposit Solutions). RNTSSM, CDMXSM, R&T FusionSM and Fusion by R&TSM are pending marks of Reich & Tang Deposit Networks, LLC (d/b/a R&T Deposit Solutions). IDEASM and Certificate of Deposit Marketplace ExchangeSM are unregistered service marks of Reich & Tang Deposit Networks, LLC (d/b/a R&T Deposit Solutions). R&T also claims rights in certain other trademarks and service marks contained and displayed on the Website and R&T Portals.
Changes to Legal Disclosures
We may change or replace these Legal Disclosures from time to time in our sole discretion. All changes are effective immediately when we post or provide them, and apply thereafter.
Any Questions?
If you have any questions regarding these Legal Disclosures, please email us at info@rnt.com or at: Reich & Tang Deposit Networks, LLC (d/b/a R&T Deposit Solutions), 1370 Broadway, 17th Floor, New York, NY 10018, Attention: Executive Vice President, General Counsel.
Copyright © 2024 Reich & Tang Deposit Networks, LLC (d/b/a R&T Deposit Solutions). All rights reserved.