Working on a Reg. E dispute for pinned transactions that I feel are done by the customer. What are the banks rights in denying these disputes and what kind of notice do we give the customer?
Are there any statue of limitations on a consumer filing a dispute in Reg E? The consumer comes in a year after the transactions (the first to the last transaction all occur within a 60 day period so unlimited liability would not apply) and wants to dispute the items as unauthorized. Does the institution have any defense or must they accept the loss?
What regulation states the bank has to notify the customer if his or her debit card has possibly been compromised?
Our financial institution is thinking of immediately lowering our cardholders' daily limit to $100 until the compromised card can be closed and a new card re-issued. Can we do this without prior notification? If we do, would a phone call be considered proper notice or do we need to notify in writing?
Are there specific disclosures and daily withdrawal limits associated with a business debit/check card?