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#1998253 - 02/25/15 09:52 PM Reg E-Initial letter requirement
CAKE Offline
Junior Member
Joined: Apr 2005
Posts: 25
I have been working as a dispute investigator for several years so I am a little embarrassed to be asking this question. After all the webinars and information I've read in regard to the requirements of an initial letter, I cannot locate in the actual Regulation where it states this. I've always thought that an "initial" letter needed to be sent to the customer within 2 business days of the customer notifying the bank of their error. Where in the Reg does it state this or have I been dreaming this up?

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eBanking / Technology
#1998256 - 02/25/15 09:55 PM Re: Reg E-Initial letter requirement CAKE
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,346
Cape Cod
It's not in the Reg. It's probably a policy/procedure decision made by management. You work with those long enough and they tend to take on the gravitas of a regulatory requirement.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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#1998670 - 02/27/15 02:59 PM Re: Reg E-Initial letter requirement CAKE
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
John is correct. It's a good practice to put all correspondence in writing, but the only written requirement is the "We investigated and find no error" [1005.11(d)(1)].
David Dickinson

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