04/14/2024
If using a software program, we become aware of a check drawn on our customers account is for sale on Telegram (a marketplace for help depositing a stolen checks) and it is over $25k would a SAR be required? We froze the item and to our knowledge the check was not purchased or negotiated.
04/07/2024
If a bank has fraud on the banks official check account, who does the bank report that to? As we get notifications on other institutions fraud official checks we are unsure of how that information gets sent out.
03/31/2024
If a customer authorizes someone to use their card and gives them the PIN for a specific transaction, and that someone uses the card for additional transactions that were not authorized by the customer, is their any negligence by the customer for giving the card and PIN for the first authorized transaction? What are the requirements according to Reg E ?
12/31/2023
Where in the regulations does it spell out the time limits and liabilities for banks regarding counterfeit checks, altered checks, forged endorsements, etc?
12/31/2023
What is the time frame to return a check which was forged or fraudulently altered, i.e. stolen and washed?
12/17/2023
How do we recall a bank-to-bank transfer that was unauthorized? We are the ODFI.
09/03/2023
A customer filed a number of POS transactions originating from Cash App and during our investigation we found out that the charges were linked to a relative of the customer (whom she's previously had issues with). Our customer claims they never authorized this person to use/access the debit card. The documentation stated a physical item was sent to the address that matches that of our customer, but the name linked to the transactions does not match our customer's name. Can we deny this claim since information links back to her address but not her name?
08/06/2023
Are financial institutions required to have a cardholder sign a dispute letter when filing a Reg E dispute on a debit card, or can a dispute be filed verbally and with no signature?
06/25/2023
We currently have an individual stating that a forgery has been committed on a DBA account that was owned by his mother. The account had an authorized signer, who was added by the account owner. The account owner passed away in November 2022 and it is the Personal Representative stating that forgeries were completed by the authorized signer's wife.
I have been investigating the statements and now the Personal Representative has filed a complaint with our regulator saying we are not responding to his claim. That is incorrect. We have reached out to the bank's legal counsel on the claim, but I'm looking for advice on handling the complaint with the regulator? The forgery claim investigation is ongoing.
06/25/2023
Is a bank obliged to reimburse a consumer client for a fraudulent check paid out of their checking account? (We are in New Jersey.). Also, the client reported the fraudulent checks 10 months after statement cut which is deemed late according to our account agreement.
I have not been able to locate a rule/code or law that makes us liable to a consumer for this.