Business debit card disputes
09/23/2018
Since Reg E does not apply to businesses, do we have to investigate a fraudulent business debit card transaction?
Brian Crow is Executive Vice President at Thomas Compliance Associates, Inc. in Chicago, IL. Brian brings 20 years of prior banking experience to the consulting field. He was most recently Assistant Vice President and BSA Administrator for a suburban Chicago bank, where his responsibilities included preparing the bank's annual BSA risk assessment and audit documentation. Earlier as Operations Officer at the same bank, Brian monitored AML activity, aided in the implementation of the bank's AML software, and designed the bank's authentication blocking program that helped to reduce debit card fraud losses by 95 percent. Brian's responsibilities also included managing the bank's Regulation E claims, managing the bank's courtesy overdraft program, reviewing Reg CC hold notices for accuracy, and processing claims for fraudulent signatures and endorsements.
Mr. Crow has been, and continues to be, an education consultant for BOL Learning Connect, conducting webinars that have covered VISA/MasterCard chargebacks, debit card compliance and fraud prevention for hundreds of banks. It was in this role that Mr. Crow was recognized as a Bankers Online Guru in 2011.
Like many of us, Mr. Crow began his banking career as a teller, working his way up to head teller and then branch management responsibilities. He earned a B.A. degree in Theology from Concordia University, River Forest, Illinois. Because of his education background, Brian has been given the unofficial title of "Security Evangelist" as he strives to help financial institutions protect their bottom line from losses related to fraud.
See all Upcoming and On-Demand training presented by Brian.
You can contract Brian at b_crow@tcaregs.com.
09/23/2018
Since Reg E does not apply to businesses, do we have to investigate a fraudulent business debit card transaction?
09/23/2018
Can we require a copy of a customer’s receipt if they are disputing the amount of a charge?
09/16/2018
A customer has claimed $700+ in ATM withdrawals are unauthorized following her loaning her vehicle, in which she left her purse and debit card, to a "down and out" acquaintance who she admitted may have previously had the opportunity to shoulder-surf her PIN. Seems cut and dry that customer has a bona fide dispute but bank has previously provided final credit of over $700 to same cardholder following unauthorized debits after she took in a homeless teen, put her purse with debit card on the kitchen counter, then left for a few hours to run errands, which suggests that customer is using the bank to reimburse her "philanthropy." Do we have a leg to stand on in saying customer is not taking reasonable care of her cards to the extent that her dispute can be denied?
09/16/2018
Can we require that a cardholder contact the merchant before opening a claim?
09/16/2018
May a "Payable on Death" account bypass payment to the beneficiary and go straight to the estate account if the Executor requests this?
09/16/2018
Our processor says we don’t have chargeback rights since a purchase was made using MasterCard SecureCode. Can we deny the claim since the cardholder’s password was used?
08/26/2018
Can we refuse to send an international wire out if we suspect fraudulent activity?
08/12/2018
Can we retain an ACH credit as a recovery on a deposit account we have charged off? I understanding if the ACH is for government benefits the rules prohibit us from retaining the funds, however, this is a tax refund and I wonder if deposit sources can be treated differently.
08/12/2018
We have a DBA car dealership that finances the purchase of it's vehicles. Are they considered a Money Services Business?
07/08/2018
Can an LLC earn interest on a bank account?