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#903092 - 02/12/08 02:33 PM written notification and liability
Bailey. Offline
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Joined: Nov 2006
Posts: 4,558
In Reg E limbo here -

Section .11(b)(1) requires the customer to give sufficient info to the bank to identify the disputed transaction. This can be orally. Time clock starts here.

Section .11(b)(2) says the bank can require written confirmation, and Section .11(c)(2) says the bank can extend the investigation period to 45 c. days w/o giving provisional credit if written confirmation is not received w/in 10 b. days.

OK, so now I've come to the end of reading Sections .11 and .6, as well as the commentary for each, and I don't see this key answer -

***What if the bank has concluded its investigation, and still has not received the required written confirmation? Can the bank deny reimbursement to the customer based solely on this? And where on Earth is this addressed?

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eBanking / Technology
#903534 - 02/12/08 08:13 PM Re: written notification and liability [Re: Bailey.]
rlcarey Offline
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rlcarey
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Posts: 74,458
Galveston, TX
There is no "requirement" that the customer ever give you a written confirmation. You still have to proceed.
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#903608 - 02/12/08 09:07 PM Re: written notification and liability [Re: rlcarey]
Bailey. Offline
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Joined: Nov 2006
Posts: 4,558
I don't think I was clear enough, sorry.

My bank imposes Reg E's option to require a written confirmation as a follow-up to oral notification. So if, by the end of the investigation period, the customer has not submitted that written statement, can the bank withhold reimbursement?

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#903628 - 02/12/08 09:23 PM Re: written notification and liability [Re: Bailey.]
C_Groat Offline
Member
Joined: Mar 2006
Posts: 70
Salt Lake City, UT
The non receipt of the written statement by the 10th business day only affords you with not needing to issue provisional credit by the 10th business day, your decision to honor or deny must still be on the facts and not based on the receipt of a written letter.

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#903955 - 02/13/08 03:20 PM Re: written notification and liability [Re: C_Groat]
Andy_Z Offline
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Andy_Z
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On the Net
I agree with C. You can ask for a written claim and that impacts provisional credit only. The claim goes on. You can't base the final outcome of the claim on something the consumer isn't required to do in the first place.
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#905161 - 02/14/08 08:46 PM Re: written notification and liability [Re: Andy_Z]
Bailey. Offline
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Joined: Nov 2006
Posts: 4,558
Thanks to all!

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