Why are banks worried about mismanagement of Reg E claims?
I have questions pertaining to Reg E, specifically Card Disputes. 1) Can the Bank require that a customer sign a dispute affidavit after they have called to notify the bank of fraudulent activity? If so, how many days do they have to sign it? Can we wait for the signature before starting our investigation? 2) Can the Bank request the customer to resolve the disputed item with the merchant prior to the Bank taking over the investigation?
What is required in our notice to customers regarding the change to Reg CC?
I need a clear & simple chart to help me understand Reg CC holds. I understand rules are changing in July, but I need something to help me today. Specifically, I have a customer depositing a cashier's check from himself at another bank payable to himself here in the amount of $106,000. How do I handle this? Example: 2-12-2020: Place a Large Deposit Exception hold on the check making $200 available 2-13-2020, $4,800 available 2-14-2020 & $101,000 available 2-24-2020 or because it's a cashier's check do I make the entire amount available on the next business day?
There has been quite a bit of debit card fraud occurring at the bank with various customers. Should this require a SAR filing regardless of the dollar amount?