Answer:
Yes and no. There is nothing in the Truth in Savings Act or Reg DD that requires you provide a periodic statement to your deposit account customers. Reg DD only outlines certain things the statement must include IF you send one. But! Reg E does mandate periodic statements for certain accounts. Most banks fall under that rule, leading to a back-door requirement for periodic statements.
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Learn more about Rebekah Leonard’s To Tell the Truth: TISA, Reg DD and Reg D webinar.
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