12/07/2009
When disputed debit card transactions cause overdraft fees, is the bank required to refund those fees and at what point in the investigation is this required?
08/03/2009
I have a customer who filed a Reg E dispute (used her MC debit card). We have received a pre-arbitration. The merchant has declined to give a refund to the customer. The filing fee is $150, the review fee is $250. I am told that the "loser" of the arbitration pays the fees. Is my bank obligated to pay the fees on behalf of our customer?
05/25/2009
I know this is a basic question but can someone explain stop payments that are subject to Reg E?
02/23/2009
The E-SIGN Act authorized institutions to provide electronic disclosures if prior customer consent is properly obtained. There is some discussion that amendments were made to Regs E and DD to withdraw portions of the rules on electronic disclosures. Is prior consent to receive notices electronically required if consumers receive internet banking disclosures via an electronic channel as part of their online registration process for internet banking and/or bill payment services?
12/08/2008
Where is it specifically stated in the regulations that a financial institution cannot charge a customer for an error resolution investigation?
09/15/2008
My bank recently had to cancel a charitable event. Many of the items that had been donated for a raffle are time sensitive and we would like to auction them off before the reschedule date. We have developed a web page to auction these items from and are only inviting those people whom would have originally attended the charitable event to bid on the items. The auction page will in no way be associated with our bank's website. Do you foresee any regulatory, compliance or marketing issues with this?
06/23/2008
How do overdraft protection lines of credit pertain to Reg E and error resolution? Do they fall under the same time limits or under a different Reg?
06/16/2008
Can you provide an interpretation of Reg E Section 205.10? It states, "the financial institution must honor an oral stop-payment order made at least three business days before a scheduled debit. If the debit item is resubmitted, the institution must continue to honor the stop-payment order". It further states under revocation of authorization "once the financial institution has been notified that the consumer's authorization is no longer valid, it must block all future payments for the particular debit transmitted by the designated payee-originator." Is the bank covered if their policy is to place a stop payment for a specific time frame? Is the bank required to block all similar transactions (same originator not necessarily the same amount) indefinitely?
05/19/2008
I know that according to Reg E 205.6 (b) if a customer notifies the financial institution within 2 business days, the consumer's liability shall not exceed $50 for unauthorized transfers. My question is that if interest has to be paid back to the customer can this offset and included as part of the $50 customer liability?
03/10/2008
Are refunds of withdrawal fees charged at a foreign ATM reportable on 1099's?