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Bounced E-statements - Rules/Practices

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Question: 
What are the rules on e-statement notification bounce-backs? If there are no specific rules, what best practices can you recommend?
Answer: 

There were rules in Reg E and Reg DD that required an institution to provide the statement through another address (paper or electronic) if the bank received notice that the original e-delivery failed. These rules were part of an interim rule implemented in 2001, but was never made mandatory and were removed in November 2007.

As to best practices, I still recommend attempting delivery through another channel if you receive notice that the original e-delivery failed. You would not always get that notice in event of a failure, but when you do, I think you have a duty to act on that.

First published on BankersOnline.com 5/25/09

First published on 05/25/2009

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