Is there a federal code that requires notifing a customer thirty days before closing an account that is receiving government payments?
We offer commercial debit cards. One of our clients recently had fraudulent activity of POS transactions in another state. Our Debit Card Contract with our customer states that the client is responsible for any loss due to fraud and the bank is not liable. The customer is not happy that he is liable. I can’t find anything that states the bank would be liable. I just want to double check to make sure we are correct in thinking this way.
We have an elderly lady who is claiming fraud on transactions dating back to April, 2009. We have contacted several of the merchants and have found that the person using her card is her son. What is her liability in this situation? She states that she authorized her son to purchase concert tickets with her card, but that was all.
Any idea where I can find case law, past lawsuits, that have narrowed down the definition of "negligence" on the depositors’ part in giving or writing down debit card PINs in Reg E disputes? We have a case where a client is being sued by the bank's attorney and our client was a victim of theft by a kid, with previous fraud on his record. Our client has stated in a deposition that he did not give the kid the PIN. The bank's attorney is trying to sue and recover the provisional credit given by the bank and this attorney is quoting "negligence" cases under Reg E/12CFR205 . We cannot find those cases. Any help would be appreciated.
If a customer is claiming fraud on his/her account and the bank has good reason to believe that the customer is not being truthful concerning the transactions in question, does the bank still have to give the provisional credit under Reg E?
Our debit cards have the Visa logo. On the Visa website they advertise zero liability. Does this mean our customers are excluded from the $50.00 and $500.00 liability?
We have a customer that has had debit card fraud occurring on his account. He just now caught on to it, but it has been happening since 10/2008. What is his liability? How far can we go back for charge backs?
A cardholder states that a $100 transaction is unauthorized and does not contact the bank for two weeks. We then submit the charge back and credit the account $100 and debit the account $50 for their liability in the purported fraud. The merchant then represents on that charge back and we debit the cardholder the full $100. In effect the cardholder was debited $150 for the claim and is worse off than when they started. Is it legal to hold a customer liable for the first $50 in unauthorized activity even after the merchant has represented on the charge back? Is this in keeping with Reg E?
I understand the meaning of “phishing”. Can someone please explain what “spear phishing” means? How does it differ from “phishing”?
Our policy is to request that customers submit their Reg E fraud claims in writing for signature based transactions on check cards. If the customer does not submit their claim in writing within ten days of being asked to do so, what is the time frame we must adhere to once the written claim is received? If the affidavit is received after the tenth day, does credit need to be issued within 24 hours of receiving that claim or do we have until day 90 to issue provisional credit?