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#1172132 - 04/29/09 03:06 PM Statement folding machine is broken
ahou Offline
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Joined: Aug 2002
Posts: 3,093
I just found out that statements that cycle last week have not been mailed out because the stmt folding machine is broken (suppose to be repaired today). Reg E states that the bank shall send a stmt for each monthly cycle...but I can't find a specific delivery requirement (X number of days after the 30 day cycle) to quote to mgmt.
Opinions are my own and not of my employer.

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eBanking / Technology
#1172341 - 04/29/09 04:42 PM Re: Statement folding machine is broken ahou
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 38,927
Cape Cod
There is no such specific requirement in the regulation.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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#1172797 - 04/29/09 08:50 PM Re: Statement folding machine is broken John Burnett
Andy_Z Offline
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Where you may have issues in the mailing date is any long claims that involve the statement mailing date plus 60 days. So whomever handles claims needs to know that this cycle was mailed late. (Likely this won't be an issue, but just in case...)
My opinions are not necessarily my employers.
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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