Is a bank required to provide a periodic loan payment notice to customers who have signed an authorization to have their payment debited from their checking account. Assume a level monthly loan payment on a closed-end loan product (i.e, car note or fixed mortgage). I can't seem to think of a reason on the lending side to send the payment advise month after month, especially since the customer will be getting a periodic statement on their checking account. Thanks for your help.

I am aware of no requirement and that sounds like a very costly process. Get some credit and recommend it be stopped unless you have some state requirements. It isn't a Federal one.