Posted By: ULBanker2525
Reg E. - Unauthorized Transaction Liability - 09/01/15 08:59 PM
I need some guidance here:
The scenario is - A customer sent in a dispute last week (late Aug) claiming that back in Jan. of this year they were getting their computer fixed and that the company processed the transaction without the customer's authorization. The total was $100 for this transaction. This scenario occured again in March with a separate company and the total was again $100.
Am I correct in that since the customer missed the required timeframes for reporting either of these disputed transactions that the customer is liable for the full $200 and the Bank does not need to provide credit?
Thanks
The scenario is - A customer sent in a dispute last week (late Aug) claiming that back in Jan. of this year they were getting their computer fixed and that the company processed the transaction without the customer's authorization. The total was $100 for this transaction. This scenario occured again in March with a separate company and the total was again $100.
Am I correct in that since the customer missed the required timeframes for reporting either of these disputed transactions that the customer is liable for the full $200 and the Bank does not need to provide credit?
Thanks