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October 29
Documenting an Applicant's Intent to be a Joint Applicant;
David Dickinson

November 4
Issues with Deceased Customers;
Mary Beth Guard and John Burnett

November 5
Vault Burglaries, Floods, Fires & Other Disasters;
Dave McGuinn

November 6
MLO v LO - Who Has to Do What?;
Jack Holzknecht and Mary Beth Guard

November 13
Domestic Violence & Workplace Violence: There Is A Link;
Shelly Collins and Dana Turner

November 18
Understanding USPAP and Regulatory Guidelines for Appraisal and Evaluation Compliance Reviews;
Eric Collinsworth



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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: 1361
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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