Missouri Verification of Unrestricted Deposits (MUD) is a service provided by the Missouri Department of Insurance, Financial Institutions and Professional Registration (DIP) to verify a depository institution's ability to accept unrestricted deposits. Unrestricted deposits are deposits that are not limited to a certain purpose, such as a savings account or certificate of deposit. The MUD service allows consumers to confirm that a financial institution is state-licensed and has the required capital and liquidity to accept unrestricted deposits. There are two types of Missouri Verification of Unrestricted Deposits: traditional MUD and MUD Plus. Traditional MUD provides a one-time verification of a depository institution's ability to accept unrestricted deposits. MUD Plus provides an ongoing verification of a depository institution's ability to accept unrestricted deposits, including quarterly updates.
Missouri Verification of Unrestricted Deposits (MUD) is a service provided by the Missouri Department of Insurance, Financial Institutions and Professional Registration (DIP) to verify a depository institution's ability to accept unrestricted deposits. Unrestricted deposits are deposits that are not limited to a certain purpose, such as a savings account or certificate of deposit. The MUD service allows consumers to confirm that a financial institution is state-licensed and has the required capital and liquidity to accept unrestricted deposits. There are two types of Missouri Verification of Unrestricted Deposits: traditional MUD and MUD Plus. Traditional MUD provides a one-time verification of a depository institution's ability to accept unrestricted deposits. MUD Plus provides an ongoing verification of a depository institution's ability to accept unrestricted deposits, including quarterly updates.
