Answer:
Technically - no. The only time written notification required is:
205.11(d) Procedures if financial institution determines no error or different error occurred. In addition to following the procedures specified in paragraph (c) of this section, the financial institution shall follow the procedures set forth in this paragraph (d) if it determines that no error occurred or that an error occurred in a manner or amount different from that described by the consumer:
(1) Written explanation. The institution's report of the results of its investigation shall include a written explanation of the institution's findings and shall note the consumer's right to request the documents that the institution relied on in making its determination. Upon request, the institution shall promptly provide copies of the documents.
However, most banks provide letters to customers explaining the result of all investigations, such as that the provisional credit previously issued is final.
First published on BankersOnline.com 10/3/11
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