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#680814 - 02/06/07 05:32 PM Reg. E Confusion
TrainingisLife Offline
Junior Member
Joined: Jan 2007
Posts: 31
I am confused. I have been reading different posts about Reg E. and I am confused about when a DC transaction occurs when it is covered under Reg. E and when it does not. I am not all that familiar with the Reg.

Also, if a customer calls our bank and tells them that a DC transaction has occured on their account that was not theirs, can we tell them that we require a signed form before we start processing? If so, when do our 10 days start?

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Operations Compliance
#680949 - 02/06/07 06:42 PM Re: Reg. E Confusion TrainingisLife
hhughes Offline
New Poster
Joined: Jan 2007
Posts: 20
I beleive DC go with Reg E regs. Your time starts when you recieve notice. Does Not need to be in writing when the 10 clock starts. Although you can ask for it to be in writing. And don't forget you have to notifiy the customer within 3 days the results of the invesitgation.

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#681546 - 02/07/07 12:43 AM Re: Reg. E Confusion hhughes
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
You can ask for it in writing, BUT you cannot REQUIRE it to be in writing. Review §205.11(b). You'll also want to review §205.6 and the Q&A's that follow Reg E for these two sections.
David Dickinson

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