08/25/2024
Scenario: A bank employee inadvertently makes an error while processing a payment authorized by phone by the customer, for example, customer authorized his/her personal loan monthly payment of $100 but the employee processes a debit for $101, or $96.
Could this be considered an unauthorized electronic fund based on the amount error? Can this be considered a violation of other consumer protection law/reg? UDAAP?
06/11/2023
We have a “spin the wheel” promotion. To spin, a customer must donate $1 that the bank donates to a charity. All the prize amounts on the wheel are more than $1 therefore all customers will get more than they donate. The amount won is then sent to the customer via our e-wallet app. We set a certain number of spins and it is done on a first-come-first-served basis.
06/06/2021
What is the bank's responsibility when it comes to online banking fraud? We have a customer, his niece got ahold of his account number, signed him up for online banking, sent out P2P payments to herself and others, and now he's negative in his account. He did file a police report against her. Does this fall on the customer or the bank?
05/09/2021
Recently my bank began to duplicate ATM withdrawals for some customers. For one customer alone it could amount to several thousand dollars. This went on for months before the customer and the bank discovered the problem.
At that time the customer sent an email to our helpline asking for assistance and claiming that she had not made the duplicate withdrawals herself. I’m inclined to let her go through the process of trying to prove that she did not make these withdrawals herself. She was in Mexico and I believe it will be very hard to get a Mexican bank to help her.
Unfortunately our customer assistance sent her a reply stating that the bank had a known issue creating duplicates for ATM withdrawals. Otherwise how can she prove it?
Are we in any danger if she does take legal action? Since she is in Mexico I had the customer service write her back and tell her she needs to go to her local bank and take care of it herself. That has been our standard reply since for similar claims. If she takes legal action what are the odds that we would lose and have to pay her back all that money? Can we simply delete the email we sent to her saying we had a known issue with duplicates on ATM withdrawals? Then she’d have no proof whatsoever. Please advise.
05/09/2021
Recently my bank began to duplicate ATM withdrawals for some customers. For one customer alone it could amount to several thousand dollars. This went on for months before the customer and the bank discovered the problem.
At that time the customer sent an email to our helpline asking for assistance and claiming that she had not made the duplicate withdrawals herself. I’m inclined to let her go through the process of trying to prove that she did not make these withdrawals herself. She was in Mexico and I believe it will be very hard to get a Mexican bank to help her.
Unfortunately our customer assistance sent her a reply stating that the bank had a known issue creating duplicates for ATM withdrawals. Otherwise how can she prove it?
Are we in any danger if she does take legal action? Since she is in Mexico I had the customer service write her back and tell her she needs to go to her local bank and take care of it herself. That has been our standard reply since for similar claims. If she takes legal action what are the odds that we would lose and have to pay her back all that money? Can we simply delete the email we sent to her saying we had a known issue with duplicates on ATM withdrawals? Then she’d have no proof whatsoever. Please advise.
10/25/2020
When a cardholder has a fraud alert on their card and they tell the fraud center that the transactions are NOT fraud, the fraud center reopens the card. Now the customer has roughly 10 or more charges from the same company that she just said were not fraud. Now she is claiming that they are all fraud. (including the original charges) What do we do?
02/16/2020
Should non-RE loans that exceed the dollar threshold for Regulation Z coverage still be considered consumer loans as far as coding and reporting?
We have a difference of opinion. One side believes the Reg Z exemption essentially changes the loan into a commercial loan in every way. The other thinks that the disclosures in the documentation is where the exemption is primarily seen and the loan should be coded and reported exactly like any other loan of its type that is under the threshold. Any clarification would be appreciated.
10/13/2019
We have a customer that we suspect may have several fraudulent checks written against her account. How long does she have if they are fraudulent,
to sign the forms that they are fraud?
10/06/2019
This is about an advertisement that offers a bonus to a customer and one of the conditions to be met in order to qualify for the bonus is having a set
number of debit transactions posted to the customer's account within a specific period of time. When disclosing this qualification in the ad for
the customer, should it be specified as "posted and cleared to your account" to be more clear and conspicuous or is the language "posted to your account"
sufficient?
Does Reg DD indicate the need to specify the term "cleared or completed"
when referring to posted?
01/14/2018
On interest bearing accounts, must a bank whether in person or via online e-disclosures provide a rate sheet to their clients or is this discretionary?