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Very late Reg E claims

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Question: 
Is a bank required to investigate a claim if the customer does not report a unauthorized transaction until after the 60 days after the first statement a disputed transaction appeared on?
Answer: 

The bank has liability. How much liability is determined -- by an investigation. I recommend you follow what you would normally do, less the payment of provisional credit and less the required time of completion. Don’t drag it on, but get what is needed to make an informed decision as to liability.

First published on 06/06/2021

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