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#141404 - 12/18/03 09:52 PM Regulation E - provisionally crediting interest
Anonymous
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When reviewing Reg. E, section 205.11(c)(i.) it states that we will "provisionally credit the customer's account in the amount of the alleged error (including interest where applicable within 10 business days....."

Do financial institutions have to provisionally credit lost interest associated to a disputed amount to a checking account customer that has an interest-bearing account?

If the disputed amount caused an NSF fee, is that fee supposed to be reimbursed along with the provicional credit. If the dispute is declined the disputed transactions, interest and NSF fees would all need to be debited back to the cardholder, is that correct?

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eBanking / Technology
#141405 - 12/18/03 09:53 PM Re: Regulation E - provisionally crediting interest
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Yes, on all counts.
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John S. Burnett
BankersOnline.com
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#141406 - 12/19/03 06:48 PM Re: Regulation E - provisionally crediting interest
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
John's right. I like to say "Make it like it never happened".
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David Dickinson
http://www.bankerscompliance.com

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