Most Popular Compliance Content
Identification for opening an account
01/15/2017
Do we have to get two types of identification for CIP?
SCRA and MLA databases
01/15/2017
It seems that the MLA DMDC database is more complete than the SCRA DMDC database. For SCRA purposes, can we use the MLA DMDC for SCRA purposes?
Returns in the ACH Network
01/15/2017
Do the ACH Rules cover every type of situation where a customer wants to return an entry?
HMDA reportable lines
01/15/2017
In 2018, for HMDA, if you are required to report either closed-end or open-end loans/lines, or both -- do you also report denials, withdrawals, etc. of each?
Reg E and Visa's Zero Liability Rule
01/15/2017
We have a customer who was contacted by a company offering a $5,000 loan. Our customer was interested and paid a loan processing fee of $275.99 using their debit card . Our customer was then contacted by the company needing an additional $151.99 in order to pay the taxes on the loan which was also paid by their debit card. When the loan of $5,000.00 never showed up, our customer contacted the company inquiring on the loan and was told that an additional $463.00 was needed to continue the loan process due to the customers low score. The customer has now filed an EFT dispute with the bank. All the fees were processed through Western Union. Visa is claiming that there are no charge back rights and that the customer has to work with the merchant for the funds. This seems to be a classic loan scam. What is the banks liability with the customer in reference to Reg E and Visa's zero liability rule?