When the new Regulation E amendment becomes effective that prohibits opt-out programs for overdraft services for ATM and one-time debit card transactions, will we have to change our opt-out program for other types of overdrafts?
This question is in regards to a Reg E claim. The client states that he gave his daughter permission to use his debit card previously. He never notified the bank to state he no longer wanted her to use the card, cancel the card or change the PIN. He now has several withdrawals he didn't know she had taken. Where can I find info regarding the client’s liability amount? It appears she was removing the card from his wallet and then replacing it.
If an oral error dispute notification is received by the bank on a Saturday (non-business day), do I start the clock ticking on Monday or Tuesday to determine the ten business day investigation time limit?
A customer had a recurring monthly debit post via debit card transaction. The customer had an agreement with a finance company to debit the account monthly until the debt is paid in full. The customer passed away and the finance company debited the remaining amount owed per the agreement. The joint owner is disputing this debit because she was not a part of this agreement. Is this final debited amount owed back to the joint owner?
Is there a banking regulation limit on the number of debit cards that a bank can issue on a business (corporation) checking account?