What are the REG E rules concerning a delay by the cardholder of not reporting a lost/stolen card and additional transactions were processed? Example: Affidavit states card stolen 04/10, but blocked on Network 05/18.
A customer sends an ARC transaction for the incorrect dollar amount. Are there any other means to pursue an adjustment other than having the Receiver/RDFI return the transaction as unauthorized or improper?
The agreement we have customers sign when they enroll in our online banking product includes language regarding the Bill Pay feature. If a customer chooses not to use Bill Pay at that time but decides to take advantage of it at a later date, would they need to sign an additional document or disclosure? If it is not a requirement, would it be a best practice to have them sign something or provide them with a complimentary document that describes the Bill Pay features? Any help along with possible regulatory cites is very much appreciated.
I want to understand the structure of an e-banking system. I intend to prepare and submit a proposal for implementing an e-banking solution for my bank. What infrastructure should be in place? Is the solution software based? What are the hardware and software required?
A person makes out a deposit slip at the ATM to deposit $3,000.00 into their bank account. The ATM system immediately credits their account for the $3,000.00. They also receive credit for the $3,000.00 when the deposit transaction is retrieved from the machine. They don't notice for a few days until they check their online banking that $3,000.00 was credited to their account twice. Upon looking at the statement, it shows that there were two $3,000.00 deposits in the account. The thought is naturally that the error will be detected and the amount withdrawn. It has now been fourteen (14) months and has shown up on two bank statements. The questions: 1) Is there any law covering whether or not the money becomes the property of the account holder after a certain amount of time, and if so, what rights does the account holder have? 2) The account gets closed say after ninety (90) days, and the error is still not detected, but they find it fourteen (14) months down the road. Would they be able to pursue legal action?