Skip to content

Disputing Transfer of Funds b/w Accts. (Reg E)

Answered by: 

Question: 
If a customer is disputing a transfer of funds between accounts on which she is a signer, whether it was done​ via​ online web, mobile phone, ATM, at a branch or over the phone with a banker, does this fall under the Reg​ulation​ E guidelines?
Answer: 

Depending on the account types involved, and whether the transfers by telephone are made under a telephone transfer plan, the transfers may or may not be subject to Regulation E and therefore subject to the error resolution requirements of section 1005.11 of that regulation.

For example, if the accounts are business accounts, Regulation E won't apply. If the transfers are made by telephone, they may or may not be covered by the regulation, depending on information not supplied in your question. For further information, you can review the provisions of section 1005.3 of the regulation, which defines the term "electronic fund transfer," and explains which transactions are covered and which are not.

First published on 09/02/2018

Filed under: 
Filed under lending 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