I’ve heard about keylogging- how does it work?
Are there any compliance issues with regards to a change of address on a commercial loan. i.e authorized signers on change of address form, verbally submit a change with no written signature obtained?
A friend received a letter from their banking institution which informed that they would no longer offer debit cards on business accounts because of changes to Dodd-Frank. I am not aware of this. What Regulation is changing?
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?
Debit card fraud claims: we currently require the member to complete a CUNA affidavit, cardholder dispute forms and provide a police report. Does this practice now cease as we know it? This is in regards to Reg E.
Customer disputes a charge initiated on the Internet and has possession of their electronic device. The card is not lost or stolen. We sent in the dispute and were informed the transactions could not be charged back because the merchant and cardholder utilized secure debit. Do we still have to reimburse our customer?
A customer has fraud on their card and the fraudulent charge is under a certain amount. When we have a smaller disputed transaction, we usually just take the loss for the item, write it off and send a letter of finalization. To my understanding, once a final letter has been sent, credit CANNOT be reversed per Reg E. I have had instances where we have written fraud items off, sent a letter, but the merchant refunds this item directly to the customers debit card giving them a second credit. Does the bank have the right to take their credit back? Do we not have the right because a final letter was sent?
I have a debit card dispute on 52 transactions (all from the same merchant) with dates ranging from 9/26/10 thru 11/21/10. This customer states that the merchant contacted her about the possibility of fraud on 11/19/10. On that same date, she contacted our bank and had her card cancelled. She did not file a dispute with us until 1/26/11 because she claims she has been working with this merchant to resolve the dispute. My question is, what date should be used in determining the 60 day statement guideline for provisional credit? Should we consider 11/19/10 as the notification date, or 1/26/11?
A customer's phone was stolen, and because the debit card was on file with the phone company, the fraudulent charges were automatically applied to it. The customer is now wanting to file a dispute with us (the bank) to receive his money back ($200). How is this handled under Reg E and VISA? Should I file it as a VISA? Do I need to provide provisional credit, or does he need to take it up with his cell provider?
I'm the compliance officer at a small community bank. We do not offer remote deposit capture, but from what I understand, some of our bank's commercial deposit customers have gone out on their own initiative and obtained RDC services from various third parties. Our customers are then using this platform to make deposits to their accounts at our bank. This would seem to involve risks to our bank, but I'm getting a lot of push-back from the sales side, that because our bank had nothing to do with the customer's decision to enroll in or obtain these RDC services, the bank has absolutely no risk. I'm not as convinced about that. Any help and or guidance appreciated.