01/01/2004
- Identity theft victims spend about 30 hours canceling accounts and filing reports.USA Today, Citibank Research, 12/14/03
11/17/2003
If a customer accesses our ATM with a foreign ATM card and does not receive their cash we refer them to the banking institution that issued them the card to file an EFT claim. Is this procedure covered by Reg E?
11/03/2003
We will be providing online banking to our customers and I would like some clarification on the modifications of our current policies and what policies should I create from scratch. I will edit our Privacy Policy to reflect a new online privacy policy. I will also edit our CRA file, edit EFT disclosure, edit IT policy and evaluate our risk assessment plan. I will CREATE an online banking policy, online banking agreement, firewall policy and an internal audit checklist. Does this sound like I am moving in the right direction? Any additional items I should address?
11/03/2003
Two weeks ago a customer notified our Bank in writing that they are claiming unauthorized EFT transactions that appear on their statement from four months ago, three months ago, and two months ago , and EFT transactions that have occured from within the first two weeks of this month. My question is, under Reg E, isn't the customer liable for only $50 of any of the disputed EFT transactions that have occurred in the period of time up to when they notified us two weeks ago?
08/04/2003
What is the difference between "pre-paid debit cards" and "stored value cards"? Are there any regulatory issues with offering them (other than EFT Error resolution?) and are there any difference in offering one over the other?
07/21/2003
What are the Reg E disclosure requirements for new Internet Banking clients? Do you need to re-disclose and if so can you do this electronically?
03/03/2003
When customers pay bills through the bank's web site, a draft is generated to pay the bills. Who has the liability if the account is overdrawn? Would Reg E or EFT rules apply?
03/03/2003
If we do not open accounts over our web site, does the Reg E Error Resolution information need to be a disclosure on the web site?
02/03/2003
When a customer disputes transactions made with their Visa Check Card issued to them by our bank, how should the transaction be approached from a regulatory stand point? Is it EFT or Credit Card? We are having difficulty agreeing on the format we should apply.
10/14/2002
Business Case Estimates New Banking Industry Revenue of $1 Billion in 5th Year from Internet Payment and Authentication Services