FACTA section 212 - Sending Negative Disclosures

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Question:

When sending a negative information disclosure for FACTA Section 212, does a notice need to be sent to each individual on the account? A compliance source stated that a negative disclosure needs to be sent to each individual on the account, in separate envelopes.

Answer:

The following link will answer your question. Be sure to read the entire thread to get the full benefit of the discussion.
http://www.bankersonline.com/ubbthreads/showflat.php/Cat/0/Number/273269/page//fpart/1/vc/1

First published on BankersOnline.com 1/9/06