Scenario: A bank's CSR processing early withdrawal penalties entered incorrect data, which resulted in the incorrect calculation of the interest penalty. If the institution recalculates the interest penalty and finds the error, they make the correction and report it. The amount is usually pennies.

If a credit is due, is there a de minimus amount under which banks are not obligated to send a check? I haven't seen anything directly on point in the reg - My feeling is anything under dollar would be considered de minimus.

Any thoughts on this? Or suggestions where to look for an answer?