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#2001986 - 03/17/15 02:25 PM Recovery of funds
NPEBS Offline
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NPEBS
Joined: Nov 2013
Posts: 2
PA
In this scenario, how should the recovered funds be distributed? ACH claim for unauthorized transactions over an extended period of time and not reported timely. Customer liability applies. FI is able to recover some of the funds for the latter transactions. May the credits be applied to the FI loss or should it be distributed to the customer liability or split between customer and FI? Is this specified in Reg E?

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Audit
#2002245 - 03/18/15 01:33 AM Re: Recovery of funds NPEBS
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
Is this specified in Reg E?

No. Use your moral compass.
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