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#1836079 - 07/24/13 07:18 PM Reg E investigation fee?
CARM9 Offline
100 Club
Joined: Feb 2011
Posts: 112
I thought i read somewhere in Reg E that is was not permissible to charge a fee for processing an error resolution claim. I have searched and could not locate. Thoughts?

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eBanking / Technology
#1836100 - 07/24/13 07:43 PM Re: Reg E investigation fee? CARM9
James M. Moore Offline
100 Club
James M. Moore
Joined: Jul 2013
Posts: 110
Georgia
The consumer's liability for unauthorized transactions is governed by 1005.6.
_________________________
James M. Moore, CRCM
My postings are not legal advice and may not be endorsed by my employer.

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#1836133 - 07/24/13 08:14 PM Re: Reg E investigation fee? CARM9
BrianC Offline
Power Poster
BrianC
Joined: Nov 2004
Posts: 6,840
Illinois
See the commentary to section 1005.11

3. Charges for error resolution. If a billing error occurred, whether as alleged or in a different amount or manner, the financial institution may not impose a charge related to any aspect of the error-resolution process (including charges for documentation or investigation). Since the Act grants the consumer error-resolution rights, the institution should avoid any chilling effect on the good-faith assertion of errors that might result if charges are assessed when no billing error has occurred.

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Sola Gratia, Sola Fides, Sola Scriptura, Solus Christus, Soli Deo Gloria!
www.tcaregs.com

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#1836217 - 07/25/13 12:36 AM Re: Reg E investigation fee? CARM9
CARM9 Offline
100 Club
Joined: Feb 2011
Posts: 112
Thank you all! smile

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