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?
09/22/2024
Suppose that you have a customer that is 100% the victim of a scam. The transactions clearly show P2P withdrawals going to random people, the customer is purchasing gift cards at dollar stores and grocery stores and admits to sending this money to "a friend." The activity gets worse and worse every time you look at it, but the transactions are all authorized debit card purchases. Therefore, it is the customer's own money being spent, and the customer refuses to believe they are speaking with a scammer.
Is this reason enough to close an account for suspicious activity? Is it a waste of resources for the account to be monitored?
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
In Reg E, when a final credit is given to a cardholder on a disputed transaction and the merchant issues a credit too, can the merchant issued credit be removed? Does it make a difference if the merchant issued credit was received before or after the final credit?
06/09/2024
Does state law take precedence over Reg E when it comes to length of time a consumer has to report unauthorized debit card activity? If State law is more favorable to the consumer, then we have to follow state law. right? I am trying to find out if a consumer can report unauthorized debit card activity after, say, 2 or 3 years in Massachusetts.
11/26/2023
A cardholder let's, lets call him Grandson A, use grandma's card to make a Temu purchase. Her other grandson, B, never had authorization to use the card. Grandma begins to get unauthorized or unfamiliar charges from Google and CashApp on her account. She states she thinks Grandson B took her card out of her purse, made the transactions, and placed the card back. Are we able to file a chargeback on the charges based off the her assumption that Grandson B took the card info?
10/08/2023
When a cardholders card if flagged for fraud and they refuse to close it until a new card arrives can we deny any claims of fraud for that card after they were made aware of their card being compromises?
Ex: bank calls customer on July10 to tell him his card had attempted fraud and he insists he needs the card left open. Then on July 17 he had multiple transactions post to the card, and he now wants to dispute them. Had we closed the card none of this fraud would have happened.
08/20/2023
We had a customer who was attempting to purchase tickets through ticketmaster using their debit card. They were redirected to a different site and proceeded to enter their card information to complete the purchase.
The customer then received a text message of a possible fraud transaction, which was for the dollar amount ($612) that she had just tried to purchase, so she confirmed that the transaction was legitimate. She looked at her transactions moments later and realized that the merchant name for the transaction was not ticketmaster.
She called us the same day and said this may be fraud. She admitted that she was redirected during her purchase. The merchant name is a bitcoin company (transak.com) and we do not have any charge-back rights.
We are wanting to know if we have to take the loss or if we can put the responsibility on the customer since she entered her information in the website and she initially said the transaction was legit? Can you please advise on this?
07/02/2023
We were having a discussion this morning at our Compliance Meeting about raising the limit of our POS for our debit cards. Currently, we have it set to $500 and were thinking about raising it to $750 or $1,000. If we would raise the limit to some other amount, would the bank's liability increase? If there is anything you can tell us to reference we would appreciate it.