Reg E Disclosure vs Application

Posted By: Compliance Lover

Reg E Disclosure vs Application - 09/12/12 06:49 PM

Is it necessary for a new account customer to sign a copy of the EFT disclosure for us that states they have received it?
(This is in addition to their ATM/Debit card application)
The form has the signature line built in, but to my knowledge there is no such requirement in Reg E.
Posted By: John Burnett

Re: Reg E Disclosure vs Application - 09/12/12 07:36 PM

And to my knowledge, you are correct. It's not required. Your well-documented and correct procedures for providing the disclosures are all that is required.
Posted By: Compliance Lover

Re: Reg E Disclosure vs Application - 09/12/12 07:52 PM

Ok, thanks.