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#2176940 - 05/07/18 03:32 PM Reg E Claim - Fraud Monitoring Service
Anonymous
Unregistered

We use a third party fraud monitoring service that contacts cardholders for suspect items. The third party fraud center is working on behalf of the bank, therefore If the customer confirms fraud with the fraud center, is this consider notice to the bank, starting the error resolution clock to tick? Or, does the customer the have to contact the Bank to make thee claim?

(b) Notice of error from consumer. (1) Timing; contents. A financial institution shall comply with the requirements of this section with respect to any oral or written notice of error from the consumer that:

(i) Is received by the institution no later than

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#2176947 - 05/07/18 03:45 PM Re: Reg E Claim - Fraud Monitoring Service Anonymous
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,651
Galveston, TX
tick-tock - they are acting as your agent.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2211936 - 04/24/19 02:02 PM Re: Reg E Claim - Fraud Monitoring Service Anonymous
ahkcompliance Offline
Diamond Poster
Joined: Sep 2008
Posts: 2,470
Midwest
I'd like to piggyback off this one. We have a Fraud Center that will contact cardholders if a transaction is outside of normal based on rules, etc.

Our fraud center called a customer who never answered. Text alerts are sent, phone calls, and finally a letter. He never responded to anything. All the transactions were small dollar amounts so the card was never automatically shut off. The card was used are normal day to day places like Walmart, restaurants, gas stations. The only thing that triggered the call was it was outside of his normal location. Us as the bank even tried to contact him but no answer, etc so we figured he was traveling for work.

The card has been used for a month with charges total $4000. A large transaction went through that triggered another call and he answered and then hung up. That transaction stopped the card. He called the next day and said he didn't do the transactions.

In this case, do we have to give provisional credit? The weird thing is the card has not been used in his normal town since the card started being used out of state. His past statements show him using his card as his main source of payment.

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#2211938 - 04/24/19 02:15 PM Re: Reg E Claim - Fraud Monitoring Service Anonymous
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,651
Galveston, TX
Your attempts to contact really does not impact any of your normal responsibilities under the regulation.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2211941 - 04/24/19 02:26 PM Re: Reg E Claim - Fraud Monitoring Service Anonymous
ahkcompliance Offline
Diamond Poster
Joined: Sep 2008
Posts: 2,470
Midwest
ok, thanks.

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