What form can credit unions use instead of an annual billing rights disclosure according to Regulation Z?

Credit unions have the option to provide a shortened form of the billing rights notice directly on periodic statements, which is permitted under Regulation Z. This approach streamlines communication by consolidating the necessary information into a concise format that members receive regularly. It serves to ensure that consumers are informed of their rights without the need for a lengthy document each year.

The regulation aims to balance the need for member education with the goal of reducing unnecessary paperwork. By incorporating key billing rights information into a familiar document like a periodic statement, credit unions can make disclosures more accessible and enhance members' understanding of their rights in relation to credit accounts.

The other choices do not align with Regulation Z’s provisions. A detailed annual rights statement might be too lengthy for many consumers and may not effectively reach them. A unique billing rights brochure would require separate distribution, which could lead to confusion or missed information. Oral disclosures during member meetings may not provide the same level of clarity and permanence that a written notice affords, leaving members without a reliable reference.