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Reg DD Deposit Account Statements

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Question: 
Can you please tell me where I will find guidance on how to handle emails that bounce back that are the notification that the customer’s statement is available. It used to be in 230.10 but I can’t find anything similar in Reg DD now. ​
Answer: 

The Federal Reserve removed section 230.10 from its Regulation DD in or about 2007 when it woke up to the realization that E-SIGN doesn't provide for any regulatory implementation or interpretation.

Unless you have contracted with your customer that you will do something in the event of a bounced email notice, you aren't obligated to follow up any more than you are obliged to ensure they open and reconcile a paper statement.

I'd recommend attempting to send another email to that address (sometimes email, like the Post Office, fails to deliver to a perfectly valid address). If it again bounces, bank policy or procedure will dictate how to proceed.

First published on 11/01/2015

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