09/26/2021
If a cardholder calls to report an unauthorized transaction from a merchant they have previous transactions with because they do not recognize the transaction, can we ask that they contact the merchant first to see what the transaction was for? How would they know if it is truly unauthorized if they don't even know what it is for?
09/26/2021
When can we hold a member liable in a scam situation?
09/26/2021
If NSF fees occur outside of the “statement + 60-day time period” that would not have occurred without the unauthorized EFTs, is the bank required to refund those as well or only NSF fees that were applied within the statement + 60 day period?
09/19/2021
Can we deny a p2p transfer dispute (such as CashApp) if the customer is claiming fraud however, the customer has sent money in the past to that same payee previously?
09/12/2021
It has been my experience that most financial institutions request a consumer sign a specific form (vendor developed; card processing developed; or internally developed) - what I would consider "industry standard." I have a client who was cited by the FDIC (who said "all" regulatory agencies are citing this as an issue) for "requiring the use of a particular form." Regulation E allows for requiring disputes be put in writing and signed, providing the investigation is not delayed if a written form is not received. The bank's process includes beginning the investigation upon notification (oral or written) and follows up with getting a specific form signed (card processor developed).
Has anyone else heard of regulators citing for "required use of a specific form"? If the card processor requires disputes be submitted on their form, how can the bank complete the investigation process without "requiring" the use of a specific form?
09/05/2021
For signature card transactions, is the Bank required to give provisional credit by the 5th business day?
08/29/2021
Can a bank who's general practice is to pay provisional credit at day 10 provide it early under special circumstances for a customer?
08/01/2021
If a cardholder who is under contract with a merchant and that merchant feels that they are still entitled to those funds, can they force through a charge on a closed or hot-carded debit card?
04/25/2021
What is time frame in which a bank must credit the consumer's account for fraudulent wire transfers? The transfers were allegedly processed via the consumer's hacked email. The bank did not verify with the consumer prior to releasing the wires.
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?