07/01/2018
Is Popmoney considered an automatic transfer with regards to Reg D (excessive withdrawals) limitations?
04/02/2017
Do we need to have the client sign a new Automatic Fund Transfer (AFT) form if we are changing how their payment will be applied? i.e. from P&I payments to P&I with the surplus funds being applied to principal only. The amount would not change, only how it is applied.
09/25/2016
Is signature needed for OD transfer service? Our "overdraft" product does not qualify as overdraft under 12 CFR 1005, as it's simply a transfer between the consumers accounts. The consumer receives two free transfers per year but is subsequently charged $0.50 for each transfer thereafter. Is the consumer's signature required to link his/her deposit accounts for this "overdraft" service?
05/06/2013
I had a customer ask if FDIC insurance coverage would apply to Cyber Crime loss of funds. Thoughts?
04/29/2013
Is there Reg E periodic statement requirement for retirement savings accounts where we set up a preauthorized debit from a customer's account at another institution to be deposited to a retirement savings account at our institution? If so, what is the requirement? These deposits are not payroll deposits but just periodic deposits (i.e. monthly deposits of a specified amount) to a retirement savings account.
04/01/2013
A customer's savings account is set up to protect his checking via overdraft protection and he has violated Reg D for three consecutive months and the bank has removed the overdraft capability, following all requirements of course. When can he or can he request overdraft protection from his savings to his checking again?
04/01/2013
Our customer gave their 9-year-old child permission to buy a book on the Internet through Apple ITunes in the amount of $9.99. While in the website the child was looking at a lot of other things. Next day 12 charges came through their account totaling $373.44. They want to dispute as they only authorized $9.99. When they talked to the child he said he looked at lots of stuff but had no idea he was purchasing what he looked at. The parents called the number on statement and it directed them to a website which they emailed. We told them to let us know when they hear back which could be 48 hours. Can they dispute the difference?
02/25/2013
Is there any difference between and EFT item and an ACH item?
02/18/2013
Visa debit card dispute. A customer just noticed transactions that posted to their account. The customer is disputing three different companies. Do we figure the time frame each merchant? Or would the liability be on consumer because they did not notify us to block their account on the first transaction?
12/10/2012
June 15, 2011 titled Debit Cards - Error Resolution Problems Solved. In that training, there were slides on cancelled recurring transactions that stated that these types of transactions were not covered by Reg E. Could you please provide the reference in Reg E where it supports that a transaction that occurs after the recurring transaction is cancelled is not considered unauthorized and therefore not covered by the regulation.
