Skip to content

Dispute Filing - Statute of Limitations

Answered by: 

Are there any statue of limitations on a consumer filing a dispute in Reg E? The consumer comes in a year after the transactions (the first to the last transaction all occur within a 60 day period so unlimited liability would not apply) and wants to dispute the items as unauthorized. Does the institution have any defense or must they accept the loss?

There is no deadline in which a claim of an unauthorized EFT must be filed with you. The 60-day period described in section 205.6 of the regulation serves only as a limit on the bank's liability to the customer for transactions that the customer could have prevented by timely reporting. If my bank paid a single ACH debit on my account in 2003 and I dispute it in 2009 as being unauthorized, my bank must investigate to determine whether I did authorize the transaction. If I did, the bank can deny the claim. If I didn't, the bank has to reimburse me for it. Whether or not the bank is able to return the ACH item is irrelevant.

First published on 3/16/09

First published on 03/16/2009

Filed under: 
Filed under technology as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics