Posted By: Busy body
Annual Privacy Notice - Charged Off Accts - 04/02/10 10:20 PM
Does an annual Privacy notice need to be mailed on charged off deposit accounts?
Thank you!
Posted By: rlcarey
Re: Annual Privacy Notice - Charged Off Accts - 04/03/10 10:12 AM
No - 216.5(b)
(1) Termination of customer relationship. You are not required to provide an annual notice to a former customer.
(2) Examples. Your customer becomes a former customer when:
(i) In the case of a deposit account, the account is inactive under your policies;