09/29/2024
I am working on a Reg E dispute where a customer insists, he did not make a transfer on Western Union, and it is fraudulent. Western Union denied the chargeback and sent thetransaction to me which has all of customer's information as sender, including name, email address, home address, and phone number, and they state it was authorized...The only thing I see as "off" is the IP address is out of state.
Can I revoke provisional and deny the claim based on this proof from Western Union or not, since customer insists he did not do it?
09/29/2024
What regulatory obligations do banks have for processing automatic payments (ACH) setups, changes and cancellations?
09/15/2024
We have come across this debate many times with Nacha rules whether or not we are considered an originating depository financial institution (ODFI). We do not allow our customers to originate ACH files such as payroll, etc. We do allow them to initiate WEB entries for A2A transfers from accounts that they are owners of in order to make loan payments here and transfer funds. Does this mean we are an ODFI?
09/01/2024
We received a dispute yesterday for 51 transactions for a total of $529.33 from May and June - the customer stated on the dispute packet that she first became aware of the charges in January 2024, but they were small dollar amounts, so she wasn't worried. She never reached out to us until yesterday (6/27/24) to dispute the 51 transactions from the same merchant that she suspected of fraud in January.
Is the customer liable for the full amount since we could have prevented the 51 additional charges to post if she had reached out to us in January? Is that considered customer negligence?
08/25/2024
I need to reverse provisional credit but the customer does not have the funds in the amount I need to reverse, can I proceed with the reversal of the provisional credit, which will put the account in a negative balance ?
I understand we cannot charge any OD fees and will notify the customer we will honor checks, drafts, or similar instruments payable to third parties and preauthorized transfers from the consumer's account (without charge to the consumer as a result of an overdraft) for five business days after the notification. We must honor items as specified in the notice, but need honor only items that it would have paid if the provisionally credited funds had not been debited.
08/18/2024
The procedures my bank currently has in place for disputing recurring transactions is to completely deny them, but I know that's not correct. How should recurring transactions be handled?
For example, a customer submits a dispute against Amazon Music for the past 4 months, $10.99 each time, but the merchant has been pulling the same amount on the same day every month since last July.
07/03/2022
The question is about Reg E. If a customer has already been advised of a permanent provisional credit and later the merchant issues a credit for the same amount which was contested, can we reverse the permanent provisional credit we issued as the account now has two credits for disputed mount?
01/22/2017
Do you have a list of transactions that are Electronic Fund Transfers under Reg E?
03/06/2016
Why do we have to investigate all Reg E EFT claims?
02/28/2016
Why can't we hold a customer or member liable for having the PIN with the card?