Hi,
Our core processor is requiring us to put the following disclosure on the back of our statements. I do not believe this is required under the new rules, but can not find anything that states this. Can someone help me??

Revolving Loan Account
"Immediate credit will be given for payments made at the address listed on the front of this statement during the institution's full service hours before processing cut-off as stated on the front of your statement. Payments received at any other location will be promptly credited, but credit could possibly be delayed up to 5 days."

Required - no. However, it would be one way to comply with:

§ 226.10 Payments.

(b) Specific requirements for payments. (1) General rule. A creditor may specify reasonable requirements for payments that enable most consumers to make conforming payments.