In regards to Reg E, we know that we cannot make a customer fill out a police report to dispute a charge to receive provisional credit, however during the course of the investigation if there is true counterfeit card fraud can we then ask the customer to file the report in order for the bank to receive restitution in the event the fraudster is caught?
We have a customer who was contacted by a company offering a $5,000 loan. Our customer was interested and paid a loan processing fee of $275.99 using their debit card . Our customer was then contacted by the company needing an additional $151.99 in order to pay the taxes on the loan which was also paid by their debit card. When the loan of $5,000.00 never showed up, our customer contacted the company inquiring on the loan and was told that an additional $463.00 was needed to continue the loan process due to the customers low score.
The customer has now filed an EFT dispute with the bank. All the fees were processed through Western Union. Visa is claiming that there are no charge back rights and that the customer has to work with the merchant for the funds. This seems to be a classic loan scam.
What is the banks liability with the customer in reference to Reg E and Visa's zero liability rule?
Can a Financial Institution send out a debit card to an existing customer, even if the current card is not expired? The FI would be sending the new card as a marketing tool, so to someone who hasn't used the card in quite some time. What about if it is a credit card? Same question, but is the answer the same?
Does a credit card have to follow Reg. E's provisional credit rule, or does a credit card even have any regulations requiring provisional credit at all?
What is the Regulation E requirement for reporting an ACH Debit card transaction on a periodic statement?
Can we require a copy of a customer’s receipt to proceed with a debit card claim if the customer is disputing the amount of a charge?
In a business account with two signers and two debit cards, can either one of the signers sign a claim on the other signer's card?
Our examiners are focusing on consumer harm. What impact will this have on our debit card program?
If I have given the consumer direct or final credit for their claim and realized it was for the incorrect amount the next day, can I reverse and correct the posting after speaking to the consumer?
A customer comes in to file a non-fraud debit card dispute. If the merchant has promised to credit the customer for the charge, how long must we wait for them to do this before filing a chargeback? Do we need still to credit our customer within the 10 business days?