Skip to content

Reg E Claim Approved-Allowed to Go Back & Deny?

Answered by: 

If a Reg E claim is approved whether PIN-based or signature-based and we later determine that the transaction in question was completed by the cardholder, can we go back and deny? Claim closed and approved on 7/30/14; we found grounds for denial. The customer reported a purchase as unauthorized but merchandise was shipped to him directly.

Once a Reg E claim is final, it is final. The bank cannot reopen a closed investigation. Evaluate your Reg E process to avoid closing investigations prior to obtaining all of the information about the disputed charge. For point-of-sale purchases using a debit card, take advantage of the 90-day investigation timeframe as the chargeback process through VISA/MasterCard often takes longer than 45 days.

First published on 09/15/2014

Filed under: 
Filed under compliance as: 
Filed under operations as: 
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