Most Popular Technology Content
Reg E Dispute Timeframes
04/26/2010
When do most banks give final credit for Reg. E disputes? As I understand, merchants have forty-five calendar days from the date that the processor gives the bank provisional credit to file a representment, but our bank only has forty-five days from the receipt of a notice of error to investigate and determine whether an error occurred. I know there are instances where the bank can take up to ninety days for an investigation, but for those times when the bank only has forty-five days, the forty-five day period could end for the bank, and then the merchant could represent after that. In this case, would it just be a loss for the bank?
Game Over?
04/19/2010
We have a customer who has an account online to download games. The account is set up to debit his account for the charges. He said he had not closed the account, but the account must have been hacked, because of all the charges to it. We feel he got caught up in playing and did not realize how much money he spent. Do we have to give him provisional credit, even though the transactions seem authorized due to the agreement with the company?
Three Check Card Dispute/Fraud Questions
04/19/2010
How do you determine the difference between a "check card dispute" and "check card fraud?" If a customer claims he did not make the transaction, but the merchandise was shipped to his address, can we deny the claim? If a merchant verifies the security questions through Visa, and the transaction is approved, is the bank obligated to reimburse the customer?
Paying/Returning Debit Card Transactions
04/19/2010
Where can we find information about paying/returning debit card transactions? Would we have to find out from MasterCard? Management wants something in writing about why we have to pay those when a customer is already in the negative. They are worrying that we could pay something over our legal lending limit and then get in hot water with our regulators.
Electronic Account Notification
04/12/2010
Can an electronic account notification, such as an "NSF" notice, substitute a paper one and be sent to customers via email or online banking under either Reg DD or Reg E?