http://www.bankersonline.com/regs/12-1005/12-1005-011.htmlThis isn't an option, it's required. As you document your file your notes should indicate where you are on the investigation. If you're awaiting some confirmation from someone, denote that so your claim is still open. But if you have all the facts and decisioned the claim, it's done.
If an Error occurred…
- Within one business day correct error
- Within three business days notify customer
- If applicable, provide notice within three business days that provisional credit is final
If an Error did not occur…
- Within 3 to 10 business days provide written explanation of findings
- Debit provisional credit
- Honor checks for five business days