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#478609 - 01/05/06 01:51 PM EFT on periodic statement
Shopgirl Offline
Diamond Poster
Joined: Aug 2003
Posts: 1,264
Southeast
I have a scenario that I'm not sure if it complies with 205.9(b).
For instance, the statement reflects the following:
1. Transfer to Savings ********1234
Question - under this section, it states that you
must reflect the number of the account. Does this
suffice or do you need the whole account number to
show on the statement?

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eBanking / Technology
#478610 - 01/05/06 06:04 PM Re: EFT on periodic statement
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Technically, you don't need the account number at all. The requirement is that you identify the type of account to or from which funds were transferred. The requirement that you disclose the account number refers to the account number of the account for which the statement is issued, and that's typically given at the top of the page (or the start of its section of a combined statement).

To anticipate a question, Reg. E does not permit the truncation of the statemented account number on the statement.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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#478611 - 01/05/06 07:16 PM Re: EFT on periodic statement
Shopgirl Offline
Diamond Poster
Joined: Aug 2003
Posts: 1,264
Southeast
Thanks for setting me straight on that John.

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