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January 6, 2015
Business Accounts Documentation and Procedures with Beneficial Ownership
Deborah Crawford

January 6, 2015
FFIEC Cybersecurity Initiatives and Observations from the 2014 Assessments
Susan Orr

January 15, 2015
The ABC's of IRAs - The Basic Ingredients
Patrice Konarik

January 20, 2015
B & Z Appraisal Rules - Getting Them Right
Jack Holzknecht

January 21, 2015
HMDA Soup to Nuts
David Dickinson

January 22, 2015
Navigating the Treacherous Waters of IRA Rollovers, Transfers and Beneficiary Payouts
Patrice Konarik

January 28, 2015
Mortgage Life Cycle
Part I
David Dickinson and Jerod Moyer



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#1668685 - 02/23/12 08:51 AM Reg. E-Error Resolution
Cale_N_Oats Offline
Platinum Poster

Registered: 08/14/08
Posts: 741
Loc: Southern Illinois
We were alerted by a service provider of some unusual debit card activity on a customers account. We sent a letter to the customer asking if these charges were legitimate. They replied back that they were not and we began the error resolution process. The commentary on Reg. E says that the consumer liability rules do not apply when the bank identifies the error and corrects it on its own. My question is when does the bank cross the line from correcting it on it's own to correcting the error when notified by the customer?

I would say that since we contacted the customer and they verified that the transactions were invalid then Reg. E would apply.
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eBanking / Technology
#1668843 - 02/23/12 10:50 AM Re: Reg. E-Error Resolution [Re: Cale_N_Oats]
Matt_B Online
Diamond Poster

Registered: 09/06/11
Posts: 1382
Loc: A CU, Where Regs Don't Apply
"do not apply when the bank identifies the error and corrects it on its own"

Just based on that statement, I would say it does still apply. It wasn't corrected on its own, the customer had to request it be corrected, though the conversation was initiated by you.

I think the identified and corrected on its own would be more in the case of a vendor double-posting and things such as that.
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#1668921 - 02/23/12 11:56 AM Re: Reg. E-Error Resolution [Re: Cale_N_Oats]
Cale_N_Oats Offline
Platinum Poster

Registered: 08/14/08
Posts: 741
Loc: Southern Illinois
That's what I figured too Matt. Thanks
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