Most Popular Compliance Content
Handling Reg E claims on older transactions
08/20/2023
If an EFT claim is made long after the statement is sent showing the transaction, the rules of investigation don't apply. So why do we investigate any of these claims?
Joint owners without signatures and FDIC insurance?
08/13/2023
What if our joint owner did not sign the signature card? That used to be a thing which caused the insurance to revert to single party.
Aggravated ignorance doesn’t void a Reg E claim
08/13/2023
Why can't we hold a member liable for having the PIN with the card?
Old account, New Account Hold
08/13/2023
If a credit union allows a member to establish a new transaction account after they pay back the amount owed from a closed, charged off account, would the newly established account be subject to Reg CC's new account definition? This would mean applicable checks deposited into that account to would be subject to new account holds. Could we determine that the member's actions causing the the charge-off means they forfeit the benefit of the previous account for Reg CC, and this newly opened account would be a "new account" holds under Reg CC, or would this be a misapplication of Reg CC's new account exception?
Oral Disputes Allowed
08/06/2023
Are financial institutions required to have a cardholder sign a dispute letter when filing a Reg E dispute on a debit card, or can a dispute be filed verbally and with no signature?