If a customer has a CD with monthly ACH interest transfers, do we as the originator need to send the customer a periodic statement showing the funds transfer out?

Do you debit the CD for the amount of interest paid to it - or - Is the interest ACH out of the bank instead of paid to the account?

If you debit the CD then I would think yes, but is it really a CD or savings account?

If the interest is not paid to principal then ACH'ed out, but just ACH'ed out then no I do not think Reg E will require a statement.

Upon further digging, the interest never went into the customer's account. We are disburing the ACH from the gl.

Thanks for your help.