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Debit Card Error Resolution and UDAAP

Question: 
Our examiners are focusing on consumer harm. What impact will this have on our debit card program?
Answer: 

Examiners expect that our program will comply with our stated disclosures. Adding extra undisclosed requirements to consumers making claims of EFT errors such as requiring merchant contact prior to accepting a claim may result in UDAAP citations.

Learn more about Brian’s webinar Debit Card Compliance Maze.

First published on 05/08/2016

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