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Annual Financial Disclosure Statements

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Question: 
Do we need to keep track of who we provide a copy of the annual financial disclosure statements to? Is there a specific fee to charge for additional copies?
Answer: 

The OCC requires the notice of availability at 12 CFR 18.7(b). The FDIC has a similar requirement at 12 CFR 250.7. Both are similar and denote that the first copy is provided at no charge. If you provide more than one copy, a fee would be allowed. I would recommend charging only your costs simply because this isn't intended to generate profit and it is a required disclosure. Also, I wouldn't suspect that a lot of these requests are received. If you wanted to track who was requesting this, you could, but there is no requirement to do so.

First published on BankersOnline.com 4/17/06

First published on 04/17/2006

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