02/21/2005
Are there different ACH and/or VISA rules for error resolution, or do the timelines and requirements of Reg E apply?
12/06/2004
What are the restrictions and/or liability regarding a bank offering debit cards to businesses? What is different from marketing this product to consumers?
05/17/2004
If someone has had unauthorized ATM transactions, has identified the person, and has filed charges against them, how do we make sure that we get re-paid for what we reimbursed our member?
01/05/2004
Please clarify when the clock starts ticking on the 10 day rule under Reg E for a provisional credit. I have heard that for an ATM transaction it begins upon first notification from customer (phone call, etc.); however, I have heard that for signature-based transactions it begins upon receiving a written statement from the customer. Is this correct?
11/17/2003
We have had a few customers come in and make us aware of some unauthorized transactions done with their ATM card which they still have in their possession. When the customer has their card and the transaction is in Europe and the customer hasn't been traveling, why isn't this a valid dispute? I understand that as a Financial Institution offering the ATM product there is some risk involved. But at the same time when you can't dispute even the most obvious of unauthorized transactions, I question why the entire loss falls on the Financial Institution. Our card processors can tell us about skimming, but don't have any make exception to disputes. What types of technology is coming out that would prohibit this from happening and when will they receive it?
11/17/2003
If a customer accesses our ATM with a foreign ATM card and does not receive their cash we refer them to the banking institution that issued them the card to file an EFT claim. Is this procedure covered by Reg E?
11/03/2003
Two weeks ago a customer notified our Bank in writing that they are claiming unauthorized EFT transactions that appear on their statement from four months ago, three months ago, and two months ago , and EFT transactions that have occured from within the first two weeks of this month. My question is, under Reg E, isn't the customer liable for only $50 of any of the disputed EFT transactions that have occurred in the period of time up to when they notified us two weeks ago?
09/02/2003
I have a debit card (MasterCard) customer that wants to dispute a transaction done more than 60 days from last statement date. It was authorized but he is not receiving the "service he wanted". Because it is past the 60 day time frame he has been instructed to contact the company. He then wants to know why his friends with credit cards are getting their money back from transactions from many months ago from this company. Is it true that credit cards fall under a different regulation? We are bound by the "60 days from last statement" part of the regulation.
09/02/2003
Our bank is getting ready to change from ATM cards to VISA check cards and are working on disclosures/apps. We were told that under Reg E error resolution, POS transactions now only have 10 days instead of 20 along with foreign transactions and new accts. Is this correct? When did it change? We have lots of statements with 20 days on them, is that a major problem?
05/19/2003
Our Lost/Stolen Check card transactions are increasing. Our current interpretation of Reg-E, is that the Issuer accepts all liability for these transactions, without the right to insist on Affidavits or Police Reports from the consumer. It also appears the Issuer has no rights under Reg-E to question any customer's claims that the transactions are not theirs (due to a lost/stolen check card), even if the story does not add up. Is this the correct interpretation? What are other Institutions doing with Lost/Stolen card transactions? Are they simply taking the losses and moving forward? Do you have any suggestions on technology or techniques that are working for other institutions to help reduce losses due to lost/stolen check card activity?