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Unsatisfied Customers - Refunding Goods & Services

Answered by: 
David A. Dickinson

Question: 
I have a question about Reg E. We have situations with customers who are not happy with the goods or services they purchased using an access device and they come to us wanting a refund. Do these claims fall under Reg E? The seven errors identified under Reg E say nothing about being satisfied with goods or services from what I can find. If it does not fall under Reg E, can we require them to try and resolve the claim with the merchant?
Answer: 

"Satisfied" is a Reg Z condition when using a Credit Card. These are not Reg E errors. They authorized the merchant to debit their account. The fact that they weren't satisfied with the goods or services purchase is of no consequence.

First published on BankersOnline.com 12/10/07

First published on 12/10/2007

Filed under: 
Technology
Filed under technology as: 
Claims
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