Compliance Info for Emailed DDA/SAV Statements

Answered by:

Question:

Where can I get information on compliance related to emailed DDA/SAV statements? We need to know if the customer has to pick up the email in a certain number of days.

Answer:

There is no requirement that you follow up on emailed statements any more than you do on paper statements that you place in your outgoing mail. I believe that it's more important to remind your customers of their responsibility to ensure they receive and review promptly each statement.

First published on BankersOnline.com 11/10/08