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Reg E Trumps Vendor Agreements

Answered by: 

Question: 
Our brand of debit card allows us to deny a claim due to negligence. Do the new FAQs effect that?
Answer: 

You can always do more for a customer than Reg E requires, but you can never do less. Invoking a network or vendor rule might remove network or vendor provided benefits, but you may not do less than the law requires and your agreement with a vendor may not reduce protections a consumer has under Reg E.

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Learn more about Andy Zavoina’s Reg E Guidance – EFT Compliance webinar.

First published on 01/16/2022

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