Most Popular Compliance Content
Aggravated ignorance doesn’t void a Reg E claim
10/10/2021
Why can't we hold a customer or member liable for having the PIN with the card?
Charging Fee on Paper Statements (Move to Online)
10/10/2021
Our bank is now charging a $3 fee on paper statements in an effort to move everyone to online banking, where there would be no charge for the statement. Is this permissible by Reg?
Fraudulent Cashier's Check- Late Return
10/10/2021
We received a call from a credit union on 9-1-21 informing us that a cashier's check on them was fraudulent. We sent that check out on 8-5-21. We waited 10 business days to give the customer credit. (8-20-21) The customer has spent more than half the funds but I placed a hold on the remaining amount. Do credit unions not return through the Fed like banks? They sent us an Indemnification Agreement to sign and send the funds back. Could this be considered a Late Return? Help!
ACH Returned as NSF if made Deposit Online?
10/03/2021
We post ACH at 6:00 a.m. if a customer's ACH is negative it will be returned. My question involves when the customer makes an online deposit prior to the item actually being returned. The money is then available in the account to pay the item. Are we still able to return it NSF even though a deposit has been made into the account?
Handling Reg E claims on older transactions
10/03/2021
If an EFT claim is made long after the statement is sent showing the transaction, the rules of investigation don't apply. So why do we investigate any of these claims?
