August 9, 2011 - 3:56pm
#1
When our Collections Department receives a bankruptcy, the account has a warning code placed to not allow statements from being sent (paper and email). The question has come up: Are we violating Reg. E, because according to Reg. E, a periodic statement is to be sent for an EFT. How is your credit union handling statements for bankruptcies? Are you sending statements for savings and checking accounts and not delinquent loans? Our statements show all the accounts together.Thanks.
