08/01/2005
If a customer notifies the bank of an unauthorized EFT appearing on a statement (no access device involved), more than 60 days after it appeared on the statement what is the customer's liability? Are we required to investigate? Do we have to refund the customer's money?
07/18/2005
We have a business account that's an LLC. The partners on this account would like to electronically debit this account to credit their personal accounts (also held at the bank)? Would you agree that this transaction should be electronic and if so, what documentation should we require? If the answer is to the contrary, then should we require that the customer write a check out of the business account and deposit to the personal accounts?
07/04/2005
Should we pay an unauthorized withdrawal claim if the suspect is the customer's estranged wife? Customer has completed the affidavit naming the suspect as his wife. Local law enforcement has advised they will not file a case because of community property.
05/16/2005
We offer a discount on interest rate if the member elects to have an automatic transfer of the loan payment from his saving/checking account with us. Is this a violation of Reg. E related to compulsory use of preauthorized transfers?
04/18/2005
My mother has a credit union savings account into which her monthly social security payment is directly deposited. But she only receives a quarterly statement on the account. Aren't credit unions subject to the same statement requirements under Regulation E that my bank has to follow?
04/04/2005
When opening an account on the internet, what disclosures should be given to the applicant at time of application? This would be for checking, money market and CDs only.
02/21/2005
Are there different ACH and/or VISA rules for error resolution, or do the timelines and requirements of Reg E apply?
02/07/2005
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
I've read your articles on Reg. E Disclousres on the Web. But we are taking applications for Internet banking via the Web. Do we still need a Reg. E Disclosure and what should we be sure to include and watch for?
10/04/2004
I was wondering if we need to notify our customers about the conversion of checks as part of compliance? Some vendors that change the customers checks in RCK or ARC ACH format charge the customers, and we are getting calls saying that these are unauthorized. Does anyone know about sending marketing materials to explain this to the customers and make them aware of RCKs and ARC transactions?