06/06/2005
Our branch office took a debit card application from an individual who is not an account owner, but a power of attorney. I am hesitant to consider issuing the card. Am I correct in questioning this?
04/25/2005
04/25/2005
04/11/2005
03/28/2005
03/07/2005
We have a business customer whose account was charged $150 last month "out of the blue." Our customer claims he had spoken with a sales representative for the company that charged his account, but never gave him an order.The customer contacted us two days after his statement was mailed to complain about the charge. He had no way of knowing it had posted until then. I traced it back to our ACH files and saw a "CTX" transaction code. I've researched the ACH rules, and believe I can't return the transaction as unauthorized because too much time has passed. Must either my customer or my bank take this lying down?
02/21/2005
Are there different ACH and/or VISA rules for error resolution, or do the timelines and requirements of Reg E apply?
02/21/2005
Are agreements to transfer interest paid on a certificate of deposit via the ACH to a customer's account at another financial institution covered under Reg E? If so, would the certificate then be subject to the periodic statement requirement?
02/07/2005
How do most banks determine the savings accounts that have EFT or ACH withdrawals? Do they manually check the savings account for activity? My question is how do they know what savings accounts they need to drop a monthly statement for Reg purposes as opposed to Quarterly statements?
01/31/2005
If your bank offers bill payment over the Internet banking service, does the Reg E disclosure have to state more than the fees your bank can impose, plus the customer's "agreement to pay any additional reasonable charges not covered by the (internet banking) agreement" (for example, if the payment is NSF and the merchant charges an NSF fee electronically as well)? Can that NSF fee then be charged against the customer's account, or are there additional notices which would need to be provided?