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Truncated account number on notices

When identifying a consumer’s deposit account in a notice under the Payday Lending Rule, can we use a truncated account number?

Yes. In fact, if you provide the account number to identify the consumer’s deposit account, the complete number cannot be used. You must truncate the number as illustrated on the model forms.

Learn more about John’s webinar The Payday Lending Rule – What you should be doing NOW!

First published on 07/14/2019

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