Due to cost, I'm hearing noise that our CFO would like to turn off statement printing after we've received one month back due to bad address. Are there any guidelines or expectations documented anywhere in regard to what we're supposed to do with returned mail? Returned mail is a good indicator of a bad address, and we should try to contact the customer to get them to update their address. If unsuccessful, can we turn off statement printing if we know it would go to a bad address and be returned? If we continue to print and mail to be returned, how long do you have to hold the returned mail before destroying?

For most banks, it is one and done. Stop printing and attempt to contact he customer, flag your teller system, etc.. Destroy the returned statement, as I am sure you can reproduce any and all statements when the time comes.

Due to privacy issues and identity theft concerns, we do not rely on information provided by Post Office on returned mail to change an account address. We require either written authorization from the accountholder or a verbal request (after the customer has been properly verified).
We send a notice and an Address Change form to the new address (provided by Post Office) to solicit the accountholder to provide us with a written signed request to change the address. We will follow up with a second request. If we still don't receive a response and we stop the mailing of the statements because the customer has not updated their address. I am concerned that this increases the Banks liability as it affects the accountholders responsibility to notify of us within 60 days of the date we send the statement on which the error first occurred. Does this increase the Bank's liability for unauthorized transactions under (REG E) or are we able to put it back on the accountholder for not notifying us of their new contact information?