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Link to Error Resolution Notice

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We currently print the error resolution notice on the back of our E-banking paper statement. We are going to start sending electronic statements. The error resolution notice will not be included in the electronic statement. If we provide a link within the email to a page with the error resolution notice on our bank’s webpage will it suffice?

Answer (Jim):This is a little fuzzy under the most recent electronic communication rules for Reg E, but my recommendation would be that if you are doing it this way, the notice on the bank's webpage should be the long-form notice, not the abbreviated periodic statement notice. If you do that, I think you'll be OK. Keep in mind, though, that this is not a definitive answer, so be sure to check with your own management and legal counsel regarding any risk you may be accepting in approaching it in this way.


Answer (Andy):I will take the more conservative perspective and say that Reg E, at 205.8(b) says you will "mail or deliver" the error resolution notice. I see a difference between that and "make available" with a link. If you pull statements and the consumer enters your site first going through the error resolution notice on the way to their statement, then it would have been delivered. Jim's advice on counsel is spot on if you feel you want to enter the gray area.

First published on 8/03/09

First published on 08/03/2009

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