Reg Z TILA Disclosures Requirements for Fixed Loan

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Question:

Can we change the business address on the system from the owners home address to the address where the business is conducted without written authorization from the business owner?

Answer:

There is no law or regulation that I know of that would regulate your action, but without knowing your rationale, I would say it's a bit cheeky. Your requirement to obtain a physical address for CIP purposes does not require that that address be used for mailing. Your customer may have a good reason to want statements mailed to his home rather than the business.

First published on BankersOnline.com 6/3/13