Skip to content

Reg E Valid Reasons for Disputing an ​EFT

Answered by: 

Reg E question-My customer is disputing an ​EFT to an ​auto mechanic ​who damag​ed​ a part on his truck while performing another repair. Is this a valid​ reason to submit a dispute? Customer states​ the mechanic refused to repair the​ ​damaged part​.​

The customer has a claim against the mechanic, but it's not a claim that's recognized under Regulation E. There's not a question as to the authorization, amount, accuracy, computation or any of the other facets of the seven-part definition of "error" under secdtion 1005.11(a)(1).

Assuming that a debit card was used to initiate the transaction, there's a possibility that Visa or Mastercard rules provide a vehicle for the customer's dispute to be handled. Check the operational guides of your card network for further information.

First published on 06/24/2018

Filed under: 
Filed under compliance 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