01/19/2015
Is it necessary to provide a customer with a periodic statement for a monthly transfer of interest from a certificate of deposit to one of their accounts at another financial institution?
01/05/2015
How long do we need to retain completed debit card dispute forms? They are not electronically archived.
09/29/2014
As of now 2014 I understand Reg E does apply to business check cards. My question is the Business Check Card EFT disclosure. I need some guidelines as to what the disclosure will need to contain. bility, notification requirements, etc.
07/08/2013
Our member states he made a withdrawal from an ATM machine and as he was about to get into his car he was robbed. Does Reg E cover the members claim?
03/18/2013
In the case of an unauthorized debit entry, does the bank have to give immediate credit to the customer?
02/25/2013
Is there any difference between and EFT item and an ACH item?
11/19/2012
Can the bank require a customer to contact the merchant directly regarding EFT disputes as part of the investigation process, specifically POS/debit card transactions?
10/22/2012
We are starting up a new debit card program. I need help on what policies I need to make sure that I include in our debit card program. Prior we only offered ATM cards. What disclosures do I need to be mailing out? I figured I needed to mail out new EFT disclosure and Reg E disclosure. What kind of offline limits do I need to set for our customers? Is there a Regulation on that?
09/17/2012
Does the following safe harbor also apply to identifying recurring check card debits vs. one time check card debits for the purposes of the customer's right to stop payment? Fed Commentary for Opt in 1005.17 ii. Coding of transactions. A financial institution complies with the rule if it adapts its systems to identify debit card transactions as either one-time or recurring. If it does so, the financial institution may rely on the transaction's coding by merchants, other institutions, and other third parties as a one-time or a preauthorized or recurring debit card transaction.
07/30/2012
Is there something in writing from the Federal Reserve and/or the CFPB that supports the comment in this<a href="http://www.bankersonline.com/operations/guru2012/gurus_op011612a.html "> Q and A</a> on Reg E periodic statement requirements? The Iowa Bankers Association, our compliance liaison from the Federal Reserve, and all other sources I can find seem to disagree with this point of view. They say the IF an account CAN be accessed by an EFT, regardless of whether it actually is, that at a minimum quarterly statements have to be provided (and also for each month when an EFT occurs).