Answer by Kathleen Blancard: There is no requirement for acknowledgement of the notice. I would try not to get drawn into such a process. Show how you deliver it with each new customer/account and how you send it each year for the annual notice requirement. There is no requirement for a signed acknowledgement.
Answer by Ken Golliher: Whenever an examiner tells you something that you know to be patently ridiculous (yours is a good example) politely ask for a citation to law or regulation. Their training focuses on their responsibility to provide you with that information if you ask for it.
Regulation P doesn't even have record retention requirements, let alone a requirement for a signed receipt.
First published on BankersOnline.com 8/15/11