09/15/2024
What does “A/G/O” mean when in a payee line? For example, “Susan Smith A/G/O Bandon Counts.”
09/15/2024
A husband and wife come to the bank. The wife has an account with us the husband does not. The wife withdraws $10,000 from her checking account. Then she and her husband cash three checks not drawn on us but made payable to both of them totaling $2,500. I know we will include this on the CTR under her Part I, but should he be listed on the CTR? He only benefited from the $2,500 but is that transaction tied with her for the CTR?
09/08/2024
We have an individual account that has been receiving recurring ACH debits monthly. The account owner died 6 years ago. The bank just found out about the death only days ago. No personal representatives have come forward or are known to contact. The most recent ACH debit was paid and overdrew the account. The account has now been overdrawn for 45 days.
Can we return the ACH debits that occurred after the date of death? Although the debits have been occurring for years, the bank just became aware of the death of the account owner.
09/01/2024
Is an email consent disclosure considered "written consent" for ChexSystems? I have a lender who would like to email the ChexSystems consent disclosure to account owners and use their reply to the email as proof of consent. Does this satisfy the requirement that the consent be in writing?
09/01/2024
We received a dispute yesterday for 51 transactions for a total of $529.33 from May and June - the customer stated on the dispute packet that she first became aware of the charges in January 2024, but they were small dollar amounts, so she wasn't worried. She never reached out to us until yesterday (6/27/24) to dispute the 51 transactions from the same merchant that she suspected of fraud in January.
Is the customer liable for the full amount since we could have prevented the 51 additional charges to post if she had reached out to us in January? Is that considered customer negligence?
08/25/2024
I need to reverse provisional credit but the customer does not have the funds in the amount I need to reverse, can I proceed with the reversal of the provisional credit, which will put the account in a negative balance ?
I understand we cannot charge any OD fees and will notify the customer we will honor checks, drafts, or similar instruments payable to third parties and preauthorized transfers from the consumer's account (without charge to the consumer as a result of an overdraft) for five business days after the notification. We must honor items as specified in the notice, but need honor only items that it would have paid if the provisionally credited funds had not been debited.
08/25/2024
Are the SAR reporting thresholds (dollar amounts - $0 inside, $5,000 suspect, $25,000 no suspect) any different for Elder Exploitation related reporting?
08/18/2024
In Reg E, when a final credit is given to a cardholder on a disputed transaction and the merchant issues a credit too, can the merchant issued credit be removed? Does it make a difference if the merchant issued credit was received before or after the final credit?
08/18/2024
The procedures my bank currently has in place for disputing recurring transactions is to completely deny them, but I know that's not correct. How should recurring transactions be handled?
For example, a customer submits a dispute against Amazon Music for the past 4 months, $10.99 each time, but the merchant has been pulling the same amount on the same day every month since last July.
08/11/2024
If a business disputes a transaction as unauthorized and it is past the return timeframe, can we deny the claim since it is not a consumer account and Reg E does not apply?