08/04/2008
If an electronic statement is undeliverable to the email address provided by the customer, is the bank required to forward them a paper statement? Is there any liability on the bank if the customer does not receive their statement?
06/16/2008
With regard to Esign, can the pre-consent disclosure itself be used to satisfy the demonstration requirement? Our plan: the only way to sign up for e-statements would be to log on to our Internet Banking system, navigate to the statement page, and open the pdf disclosure/sign up form. This is the same format and location in which the statements will be delivered. My thinking is that if this is the only way to obtain the sign up form, the customer has clearly demonstrated their ability to access the statements. Upon receipt of the sign-up form, we would send an email to the address on file, which would require a reply from the customer in order to also demonstrate their ability to receive the Alert messages. E-statements would only be activated after all of the above.
06/02/2008
We have a customer that claimed that there were two unauthorized charges on his account from a company that he or his wife have never ordered anything from. He also claimed that he never received anything from this company. We gave him his provisional credit and sent chargeback requests. We then received documentation from the company that his wife ordered a product online line and was informed that this product would be sent to the house monthly and a monthly charge would come out of the account. The company had no signature but it had her email address and the address that the products have been shipped to. We researched the statements and this charge has been coming out monthly since November of 2006. Is this sufficient proof that the order was authorized? In more general terms, what would be considered proof of an authorized transaction?
05/12/2008
We have a customer that is disputing charges that had been done with her Visa/Checkcard. She just notified the bank last week, but after researching some of these charges took place back in Dec. 2007. The customer receives their monthly statements by e-mail, but according to them they have never been able to access these statements. But we have documentation that shows they view their account on a weekly basis from our website. What is our responsibility to our customer when in fact we know they were negligent?
04/28/2008
We are getting ready to launch electronic statements. We want to test it on employees first. Since employees get their accounts for free, management wants to require that they all get e-statements. Is this permissible?
03/31/2008
We recently discovered that our error resolution notices for Reg E are printed on the back of all our business statements as well as our consumer. Does anyone else have this issue?
03/31/2008
We typically provide our Reg DD change of terms notices via statement message. Our customers that receive e-statements have consented to receive the statement electronically and we send them an e-mail advising them the statement is available. Is this sufficient to cover change of terms requirements or are we required to specifically advise them that a change of terms notice is included with the statement?
03/31/2008
Must the E-Sign disclosures and opt-in be delivered electronically(such as by viewing and accepting on a webpage) or can it also be disclosed and accepted using a paper document?
03/17/2008
Are we required to send paper statements at the end of the year to members who are signed up for e-statements?
02/18/2008
My question is regarding Reg E concerning the placement of stop payments on ACH items. I was told that stop payments need to be placed indefinitely. I would think this would be up to the customer. Why would it be regulation to place a stop indefinitely without a known dollar amount, especially if you continue business with the payee? If the amount is not available all transactions from the payee will be returned. How true are these statements concerning stop payments on ACH transactions?