What is the bank's obligation per Reg E when a cardholder has initiated a debit card dispute, the merchant has produced a signed contract with the cardholder's signature, but that signature is a forgery and the cardholder knows who committed the forgery?
What do the regulations say about how long a client has to dispute an unauthorized item that was paid on their bank statement? We have a client that is claiming a forged check item after sixty days. The only thing that I could find was the Reg E rules regarding electronic items.
Some consumers believe that the images of checks are not as good as the checks themselves. What are the rules on this for proof of payment or prosecution of forgery?
Our bank has a fully operational imaging system. Since this system is in place, are we still required to hold physical copies of items? For example, instead of holding official checks the required 6 years, could we determine our own timeline for retaining physical copies and use the digital images to meet statutory requirement?