Can we deny a p2p transfer dispute (such as CashApp) if the customer is claiming fraud however, the customer has sent money in the past to that same payee previously?
It has been my experience that most financial institutions request a consumer sign a specific form (vendor developed; card processing developed; or internally developed) - what I would consider "industry standard." I have a client who was cited by the FDIC (who said "all" regulatory agencies are citing this as an issue) for "requiring the use of a particular form." Regulation E allows for requiring disputes be put in writing and signed, providing the investigation is not delayed if a written form is not received. The bank's process includes beginning the investigation upon notification (oral or written) and follows up with getting a specific form signed (card processor developed).
Has anyone else heard of regulators citing for "required use of a specific form"? If the card processor requires disputes be submitted on their form, how can the bank complete the investigation process without "requiring" the use of a specific form?
For signature card transactions, is the Bank required to give provisional credit by the 5th business day?
Can a bank who's general practice is to pay provisional credit at day 10 provide it early under special circumstances for a customer?
If a cardholder who is under contract with a merchant and that merchant feels that they are still entitled to those funds, can they force through a charge on a closed or hot-carded debit card?
What is time frame in which a bank must credit the consumer's account for fraudulent wire transfers? The transfers were allegedly processed via the consumer's hacked email. The bank did not verify with the consumer prior to releasing the wires.
Regulation E states the investigation of a dispute must be completed within 10 business days if written notice is given, but can take as long as 45 days if oral notice is given. If a customer calls the bank to report a disputed charge on their account related to their debit card on a Monday, comes in person to sign the dispute affidavit on Wednesday in order to receive provisional credit, is the investigation to be completed 45 calendar days from Monday or 10 business days from Wednesday?
We are not yet partnered with Zelle. If a customer uses the app to transfer funds and the funds do not reach the receiving end, is it a Reg E matter?
I have someone that entered their debit card for Apple purchases. They are claiming that they only authorized a few transactions and the rest are fraudulent (even though there are "authorized" transactions in the middle of the "unauthorized" transactions). Is this customer covered under Regulation E? They are claiming these charges started back in January 2020.
So, we have a customer that continues to have unauthorized charges on their debit card. We believe that someone in her house is doing these charges, but have no proof. Other than revoking her debit card privileges, is there anything else we can do? We cannot deny her disputes just because we believe someone in her house is doing them, right?