Thread Options
#2259261 - 09/03/21 07:15 PM Error Resolution
STK Offline
New Poster
Joined: Nov 2020
Posts: 3
After a dispute case is closed an accountholder contacts us and states a merchant credit was received. The accountholder request that we remove our credit. Since at accountholder request, is it ok for us to remove the credit issued? (If procedures are in place to document accountholder request.)

Return to Top
Lending Compliance
#2259264 - 09/03/21 07:43 PM Re: Error Resolution STK
Andy_Z Online
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,325
On the Net
1026.13 states, "However, if a consumer receives more than one credit to correct the same billing error, ยง1026.13 does not prevent a creditor from reversing amounts it has previously credited to correct that error, provided that the total amount of the remaining credits is equal to or more than the amount of the error and that the consumer does not incur any fees or other charges as a result of the timing of the creditor's reversal."
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

Return to Top
#2259265 - 09/03/21 07:47 PM Re: Error Resolution STK
Andy_Z Online
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,325
On the Net
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

Return to Top

Moderator:  Andy_Z