Most Popular Technology Content
Opted-in, then Opted-out, then Overdrafted
09/13/2010
Under the opt-in requirements for Reg E, a customer opted-in a couple of weeks ago. Today is Monday, and there are currently pre-authorized transactions showing in memo post from purchases made over the weekend, but that have not yet posted to the customer's account. The customer called in today (Monday) and opted out. The pre-authorized transactions posted Tuesday or Wednesday after the customer opted out, but they were already pre-authorized Saturday or Sunday prior. These pre-authorized items now came in and overdrew the customer's account. Can we charge an overdraft fee, since we knew about them prior to the customer opting out? We have a screen print of them printed at the time the customer called in to opt out.
Closing Account Receiving Government Deposits
09/06/2010
Is there a federal code that requires notifing a customer thirty days before closing an account that is receiving government payments?
Email Notifications Returned
09/06/2010
Assuming we still have a good customer mail address, should banks be concerned when the email notification to the customer regarding their estatement is returned?
Reversing Funds under Reg E
09/06/2010
Under Reg E, do I have to give the customer one week before the funds are reversed? Can I hold the funds to stop the customer from closing the account or withdrawing the funds early if the customer approves?
Reg E Claim for Bad Return Policy on Seller's Part
08/30/2010
If a customer orders something online and then mails/returns it back to the merchant, can the customer dispute this or is this subject to the merchant's return policy? Otherwise, if the merchant doesn't live up to the return policy, can the customer can dispute the charge? Can we require the customer give us a copy of the return policy?