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#2243784 - 10/08/20 03:14 PM Reg E Dispute: Does Written=Signed?
M&M Offline
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Joined: Nov 2003
Posts: 527
Midwest
We have instances where a dispute is taken over the phone and the person at the bank who took the dispute filled out the dispute form on paper. Is this considered in writing, or can we consider the dispute form to be in writing only if it is signed by the customer?

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eBanking / Technology
#2243794 - 10/08/20 03:57 PM Re: Reg E Dispute: Does Written=Signed? M&M
rlcarey Online
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rlcarey
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Galveston, TX
Signatures are not required - written confirmation from the customer is not taken over the phone though.
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#2243806 - 10/08/20 04:33 PM Re: Reg E Dispute: Does Written=Signed? M&M
M&M Offline
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Midwest
Thanks Randy. I've always operated under the signature not being required, but someone asked the question I posted, and it made me start to second guess myself. So, if we get the dispute form in writing from the customer but it isn't signed, don't we still have to give the provisional credit by the 10th business day? I'm of the opinion that we do.

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#2243810 - 10/08/20 05:09 PM Re: Reg E Dispute: Does Written=Signed? M&M
rlcarey Online
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rlcarey
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Galveston, TX
I agree - Regulation says nothing about a signature - just that the customer confirms in writing:

The institution requires but does not receive written confirmation within 10 business days of an oral notice of error;
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#2243883 - 10/09/20 07:34 PM Re: Reg E Dispute: Does Written=Signed? M&M
Andy_Z Online
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Reg E allows the bank to require a written notice under 1005.11.

"A financial institution may require the consumer to give written confirmation of an error within 10 business days of an oral notice. An institution that requires written confirmation shall inform the consumer of the requirement and provide the address where confirmation must be sent when the consumer gives the oral notification."

In the OSC at 11(b)(1)2 it mentions a signed statement:

"While a financial institution may request a written, signed statement from the consumer relating to a notice of error, it may not delay initiating or completing an investigation pending receipt of the statement."

I believe the bank may require a signature based on this, but the instructions should be specific.
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#2244073 - 10/15/20 02:07 PM Re: Reg E Dispute: Does Written=Signed? M&M
John Burnett Offline
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John Burnett
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Cape Cod
I'd be convinced, Andy, if the text of comment 11(b)(1)-2 read "While a financial institution may REQUIRE ...." As it is, the FI can request anything. It just cannot require certain things before it does the investigation.
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