Need Reg E experts
Here is the situation--Customer makes a error claim, Bank gives provisional credit while we investigate, yesterday we got notice that the merchant had refunded the customer the funds (customer now has gotten funds twice).
When we debit the provisional credit, do we need to honor the items that would have cleared for 5 days or not? I know the rule says we have to when we determine there was no error. But in this case, the customer got double.
My instinct is to honor the items, but wanted another opinion.
thanks
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CRCM