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#214092 - 07/21/04 09:57 PM Reg E and Estatements
Anonymous
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Where can I find the definition of disclosure under Reg E? A person at the bank wants to know why periodic statements would fall under the meaning of "disclosure". We are implementing Estatements and are working on the e-mail notification that the statement is available.

205.17(c)(2) Reg E Address or location to receive electronic communication. A financial institution that uses electronic communication to provide disclosures required by this part shall:
(2) Make the disclosure available at another location such as an Internet web site; and
(i) Alert the consumer of the disclosure's availability by sending a notice to the consumer's electronic address (or to a postal address, at the financial institution's option).

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eBanking / Technology
#214093 - 07/23/04 03:47 PM Re: Reg E and Estatements
ahou Offline
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ahou
Joined: Aug 2002
Posts: 3,094
I didn't find it in Reg E but if you look at Fed's circular letter 533-01 5-7-01, under "Providing Timely Disclosures" it states "Disclosures delivered electronically must comply with existing timing requirements under EFTA & Reg E. See, for example 205.7(a), 205.8(a)(1), and 205.9(b).

205.9(b) deals with periodic stmts.
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