What do the initials EDP stand for?
Can a business make monthly automatic debit compulsory for payment of their product or service without offering another method of payment to the consumer?
Does an additional regulation e disclosure have to be given to a member every time a new electronic service or device is added?
For online banking, is it acceptable to have the EFT and eSign disclosures open as one document (both displayed on the screen in full) and then assent to both with ONE click?
Is it OK to require police reports when consumers file EFT disputes?
We have an EFT dispute on a Pinned ATM transaction. The customer withdrew money from another bank's ATM (which shows on her statement). She did not receive the funds. We entered a dispute on the transaction. The other banks ATM was in balance and we have been denied payment on the dispute. Under Reg E, can we reverse the provisional credit we gave to our customer?
Is the "Official Interpretations" section of Reg E subpart B Remittance Transfers part of the Reg or just someones interpretation? Section 1005.33(a)-5. i., ii., and iii. Procedures for Resolving Errors. This makes no sense to me to hold the sending bank accountable for something beyond their control. I would think an error such as this would fall under "Extraordinary Circumstances." I have to present this to our President and CFO so your answer on this would be greatly appreciated.
If a merchant rebuts an EFT dispute and provides evidence that merchandise was shipped to the consumer's physical address, is it OK to revoke provisional credit?
Are we required to send a quarterly statement to our Passbook Savings customers if there are no electronic transactions that post to the customer's account? We have a Statement Savings account that a customer can use for ATM transactions and to set up electronic activity and we do send the required statements monthly if there is electronic activity and quarterly if there is not, but on our Passbook Savings, since we update the passbook each time a customer brings it into the bank we only generate a statement if the customer has an electronic transaction post to the account. The Passbook Savings cannot be accessed with an ATM card, but we do not block a customer from setting up an electronic transaction.
We have a customer that is highly disabled and unable to take care of herself without outside help. She needed cash and gave her ATM card to this person along with the PIN so that she could get cash. The helper withdrew unauthorized additional funds. Our customer filed dispute with us. My questions are we released from giving her funds back since she gave the PIN? Also, can we make her file a police report and press charges against the person or we'll withhold her funds?