Exam CRCM topic 1 question 208 discussion

A and B. (1) A financial institution need not furnish periodic statements required by § 1005.9(b) if the institution makes available to the consumer: (i) The consumer's account balance, through a readily available telephone line; (ii) An electronic history of the consumer's account transactions, such as through a Web site, that covers at least 60 days preceding the date the consumer electronically accesses the account; and

Financial institutions holding payroll card accounts may make available an electronic history of the account that covers a period of at least 60 days preceding the time the consumer electronically accesses the account. This provides consumers with access to their account history and balances, ensuring transparency and easy monitoring of their transactions.