When must the annual statement of billings rights be provided to a customer?

The annual statement of billing rights must be provided to a customer at least once per calendar year to comply with the requirements of the Truth in Savings Act. This statement informs customers about their rights regarding billing issues, helping them understand how to resolve disputes, make inquiries about their statements, and the processes in place to address potential errors. By ensuring that customers receive this information annually, financial institutions help promote transparency and empower customers to manage their finances more effectively.

The other options suggest more frequent distributions or a specific date, which do not align with the regulatory requirement set forth in TISA. Providing it every month or every six months would exceed the minimum requirement, and specifying a date like November 1st does not reflect the flexibility allowed in the annual provision of the statement.