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Reg E - Pending Item

Answered by: 
John Burnett

Question: 
With regard to Reg E, if an item is pending but not posted to the account, when does the clock start for extending provisional credit and working the case? Does an item need to be hard posted in order to dispute?
Answer: 

Technically, an EFT isn't subject to section 205.11 of Regulation E until it posts to the consumer's account. However, as a practical matter, the sooner the consumer jumps on a questionable transaction the better, so you may benefit from allowing the dispute to be filed before actual posting and start the clock running at that time.

First published on BankersOnline.com 8/06/07

First published on 08/06/2007

Filed under: 
Technology
Filed under technology as: 
EFT
IT

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