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Reg E Coverage - Non-receipt of Goods
Answer by John Burnett, BOL Guru
Guru Bio
Question: Does Reg E cover non-receipt of goods or is that between the cardholder and the merchant?
Answer: Reg E doesn't cover such a problem if the underlying charge to the customer's account was, in fact, authorized. However, if the terms of the authorization were such that it was not valid unless shipment took place (as might be the case if the merchant told the consumer that the account would not be charged until the shipment was made), the question of authorization isn't clear, and could be a Reg E matter.
If a debit card was used in the transaction there may be MasterCard or Visa rules that would require the bank to follow up on a cardholder's dispute.
First published on BankersOnline.com 5/05/08
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