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Latest Operations - Contingency Planning Topics

Reg E Investigation of Dispute (10 or 45 Days)

12/13/2020

Regulation E states the investigation of a dispute must be completed within 10 business days if written notice is given, but can take as long as 45 days if oral notice is given. If a customer calls the bank to report a disputed charge on their account related to their debit card on a Monday, comes in person to sign the dispute affidavit on Wednesday in order to receive provisional credit, is the investigation to be completed 45 calendar days from Monday or 10 business days from Wednesday?

Statistics, Facts, & Such

09/01/1990

The top five causes of computer disasters are fire, earthquakes, power failures, hurricanes and fraud, in that order, according to a study by Contingency Planning Research, Inc.

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Responding to Verification of Assets requests

04/27/2025

Do banks have a legal obligation to respond to verification of assets for Medicare or public housing? If so, is there a hard and fast rule for a response timeframe. We try to respond timely out of courtesy for our customer base, but the requesters have become increasingly aggressive and pushing for immediate responses. Due to the volume of requests and our limited staff, it is difficult to fulfill all of them the same day that they are received.

ECM cost savings

04/27/2025

How could the implementation of an ECM help a financial institution control its costs?

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