Skip to content

Can we right a wrong via Reg E

Answered by: 

Question: 
When customers' deposit stolen checks and send money from the account to themselves or other people through Cash App, Venmo rtc., can we file the Reg E dispute on behalf of the bank to pull those funds back since the member is attempting to use a stolen item to steal money from another person and launder it through us? Basically we would pull all laundered funds back from the stolen item or items.
Answer: 

Good luck with that - not sure how you pull funds back that have likely long disappeared.

And no - Regulation E has nothing to do with it.

First published on 11/06/2022

Filed under: 
Filed under compliance as: 

Search Topics