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February 16, 2012



Oh, the amount of money that we're going to have to spend removing our mortgage information from our current combined periodic statements and having to create this new statement. I hope that we'll be allowed to include this new statement in the same envelope as other periodic statements or the cost of mailing will be yet another additional cost. And I'm curious...does anyone even use coupon books these days? That seems to be an outdated exception.

Steve Van Beek


We'll need to bring these points - combined statements and mailing costs - to the CFPB's attention as they work through the rulemaking process.

As for coupon books, I've heard from some folks who do offer them. They would probably need to be reviewed to ensure they have additional information in the future to meet the to-be-determined specifics of the "coupon book" exception.

I wouldn't be surprised if some credit unions moved away from coupon books to monthly periodic statements as they work to comply with this requirement.

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