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#1841372 - 08/09/13 08:21 PM KS - Unauthorized Trans. Liab and Reg E.
Patricia Offline
Gold Star
Joined: Mar 2011
Posts: 329
Kansas
The bank is withholding $50.00 from Reg E claims for unauthorized transfers. The customer has not lost or stolen their card. I am saying we cannot do this and have gotten the same answer from posters on BOL. However management is looking at KS Statute 9 -1111d (b)(1) and saying it is okay to withhold $50.00. Any thoughts from other Kansas bankers would be appreciated.

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#1841380 - 08/09/13 08:33 PM Re: KS - Unauthorized Trans. Liab and Reg E. Patricia
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,293
Galveston, TX
I can tell you State law does not override Federal law and VISA and MasterCard rules regardless of what it says. When it comes to the benefit of the consumer, the least restrictive law is the one that has to be applied.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1842710 - 08/15/13 01:59 PM Re: KS - Unauthorized Trans. Liab and Reg E. Patricia
Patricia Offline
Gold Star
Joined: Mar 2011
Posts: 329
Kansas
Thank rlcarey.

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