Clone of TAC - Rule 35.71 - What must a financial institution do when it receives notice from a customer or a check verification entity that it sent incorrect information through the electronic notification system?

This is a clone of the Texas Administrative Code (TAC) for educational purposes. It is not the official version and should not be used for legal purposes. Site created Wed, 21 May 2025 21:16:37 GMT

TITLE 7 - BANKING AND SECURITIES

PART 2 - TEXAS DEPARTMENT OF BANKING

CHAPTER 35 - CHECK VERIFICATION ENTITIES

SUBCHAPTER E - PROCEDURES WHEN INCORRECT INFORMATION IS REPORTED TO THE CHECK VERIFICATION ENTITY

SECTION/RULE §35.71 - What must a financial institution do when it receives notice from a customer or a check verification entity that it sent incorrect information through the electronic notification system?

Chapter Review Date 04/19/2024

A financial institution that determines or is informed that information it furnished to check verification entities through the electronic notification system is not complete or accurate must correct that information promptly in accordance with 15 U.S.C. §§1681 et seq. and other applicable law. The electronic notification system is available to the financial institution to provide the registered check verification entities with complete and accurate information.

Source Note: The provisions of this §35.71 adopted to be effective January 3, 2008, 32 TexReg 9940.

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