Answer:
No, the final rules have not been published and because there is no effective rule on the subject (the mandatory compliance date for section 205.17 was indefinitely postponed), there isn't any regulatory standard. To the extent that anyone was following the Section 205.17 rule voluntarily, the time period was 90 days. That said, statements are a required disclosure under Reg E. Your bank will need to maintain records to document compliance with the statement requirements for at least two years under the general record-retention rules in Section 205.13(b). Those records don't necessarily have to be customer-accessible.
First published on BankersOnline.com 10/29/07
print
share