With the new amendments to Reg DD in 2009 about ATM balances including ODP amounts, is it enough to have separate balances, i.e. Ledger Balance (actual) and Available Balance (including ODP)? That is what we have currently. I just want to make sure we are in compliance if the available balance doesn't actually state that it includes ODP.
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.
I am reviewing our compliance due to the recent reminder from FDIC via FIL-66-2009 regarding Disclosures at ATMs. Are we required to post notice on both the outside face of the physical ATM and on the screen? If so, must these notices also disclose the fee amount?
At our credit union, we offer visa debit cards. If a member loses the card or it gets stolen, are we liable for returning all fraudulent funds back to the cardholder, or are liable for only a certain amount?
At our credit union, we offer visa debit cards. If a member loses the card or it gets stolen, are we liable for returning all fraudulent funds back to the cardholder, or are we liable for only a certain amount?
We no longer accept deposits at our ATMs, so we no longer display "Funds Availability" on the screen. However, would we still need to display Funds Availability to our customers who transfer funds at the ATMs?
If a customer initiates a transaction online, then cancels it the same day or the day after, are we required to give provisional credit? The merchant has not promised a refund, but the customer has a print-out showing the transaction was canceled.
We had a customer ask us to replace a damaged card. She never received or reported that she didn't receive her replacement card. In the mean time, the new and old card are being used. Three months pass before she discovers and reports to the bank that she did not get her replacement card. Is she liable since she did not report this to the bank? She knew she asked for a replacement card; knew she didn't get it, and never contacted us.
Any idea where I can find case law, past lawsuits, that have narrowed down the definition of "negligence" on the depositors’ part in giving or writing down debit card PINs in Reg E disputes? We have a case where a client is being sued by the bank's attorney and our client was a victim of theft by a kid, with previous fraud on his record. Our client has stated in a deposition that he did not give the kid the PIN. The bank's attorney is trying to sue and recover the provisional credit given by the bank and this attorney is quoting "negligence" cases under Reg E/12CFR205 . We cannot find those cases. Any help would be appreciated.
When do we start counting the days for a Reg E dispute? I thought that the day after the Reg E date is Day 1, but I want to be sure that I am correct on that.