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#1368909 - 04/02/10 10:20 PM Annual Privacy Notice - Charged Off Accts
Busy body Offline
100 Club
Joined: Nov 2004
Posts: 160
Texas
Does an annual Privacy notice need to be mailed on charged off deposit accounts?

Thank you!

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#1369007 - 04/03/10 10:12 AM Re: Annual Privacy Notice - Charged Off Accts Busy body
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,898
Galveston, TX
No - 216.5(b)

(1) Termination of customer relationship. You are not required to provide an annual notice to a former customer.

(2) Examples. Your customer becomes a former customer when:

(i) In the case of a deposit account, the account is inactive under your policies;
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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