I heard a banker comment that, “Reg E hasn’t changed, so what’s to learn?” The Reg itself and the commentary haven’t changed, interpretations of who is a financial institution, what is an error and who has to investigate errors have.
Recorded on February 20, 2024
The FDIC’s Revised Advertisement of Membership Rule: Getting
The FDIC’s revised regulation on Advertisement of Membership, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo becomes effective April 1, 2024, with a mandatory compliance date of January 1, 2025.
Nearly 88 percent of Americans accessed their checking accounts using a smartphone or tablet in 2022, and more than half of that group mobile-deposited one or more checks in 2022.
One banker commented “Reg E hasn’t changed, so what’s to learn?” While the Reg itself and the commentary haven’t changed, interpretations of who is a financial institution, what is an error and who has to investigate those errors have.
Recorded on March 14, 2023
Regulation CC: Funds Availability (Deposits and Holds)
wants their money “back” from the bank? The bank didn’t take their money and can’t give it “back.” The bank executed the transfer as the customer requested. Yet the bank is expected to replace that money under many circumstances.