In your article on Reg D, <a href="http://www.bankersonline.com/compliance/gurus_cmp080502o.html">Transfer of Funds: Do sweeps count against the transaction limit?</a>, you pointed out unlimited transactions between accounts at the bank, done at an ATM, in person, made by mail and Direct Customer Contact. Now where does the merchant capture device fit in this picture, since you have basically taken the bank to them with direct access to move money between their accounts. It seems the customer is standing in front of a piece of equipment very similar to an ATM. Should these transactions count?
We are looking at an e-banking product that allows accounts to be opened and funded without the customer ever coming into a branch. How do we satisfy the CIP requirements for account opening if we never meet them face to face?
In an ATM dispute for unauthorized withdrawal, cardhholders sometimes do not come and view the photo despite our repeated request. Are we in compliance if we deny the claim for customer not cooperating with the investigation? Are we in compliance if we mail the photo to the cardhholder, request to confirm that he/she is/not the person in the photo. The letter also would advise that no response received by a specific date would mean acceptance that he/she is the person in the photo and we will close our investigation. Are there any alternatives?
Is it legally acceptable to send out initial disclosures electronically and to forgo mail altogether?
We are looking to implement email notification of receipt of deposit instead of mailing paper back. I have seen comments on e-statements and E-sign and disclosure requirements but don't think any of that applies to receipts. Can you refer me to the regulation that states we are required to provide a receipt and the corresponding rules?
Do we need to provide e-statement disclosures in electronic format only, or if a customer signs up in a branch can we deliver the disclosure in print format either by handing out or by mail by the next business day?
Is there anything in the regulations that says we must have a customer sign a form stating they want to sign up for online banking? We currently allow our customers to sign up online and our Reps then verify the information given and approve the request online. We then mail their ID and password separately to them. The customer must accept the online disclosure before submitting the request.
Can the early RESPA disclosures be delivered via e-mail? The Reg specifies in person or via mail and I'm unable to find any opinions about e-mail.
A customer purchased something from e-Bay and claimed that he was not satisfied and returned it to them by mail. The seller did not credit his PayPal account so he is attempting to dispute the purchase through our bank. In an e-mail between the seller and purchaser (our customer) the seller mentioned receiving the merchandise back, but is now claiming that an error was made and that the merchandise was not received back by mail. Our attempt to dispute the transaction was denied because the merchant is demanding proof of return of the item. The customer either doesn't have proof or just won't provide it. After requesting the proof and not being provided with it we have removed his provisional credit until such time as he can provide the requested proof of return. Our customer is now threatening a lawsuit. Were we wrong to remove the provisional credit? Does the customer have a real case against us?
We are considering e-statements. Is there a regulation that requires a customer to receive a statement or notice by mail periodically? My concern is the loss of contact. The customer might obtain statements on the internet, but we might not know the physical location of the customer.