01/07/2008
When providing provisional credit to comply with Reg E, are we required to temporarily reverse OD/NSF fees?
12/10/2007
A customer's debit card has been stolen and unauthorized ATM withdraws showed up on his or her account. Do we have to refund the foreign ATM fees from the other bank or are we only responsible for the actual cash withdraw amount?
10/08/2007
I can't seem to locate where in Reg E that it specifically states that all fees, specifically overdraft, must be included in the provisional credit - it only mentions interest. Can you please point me in the right direction?
09/24/2007
Pay day loan companies are illegal in NC and a customer gets loans from six different companies then finds out it is illegal. He or she is then advised that they don't have to pay them back because they have no recourse against her in NC, so he or she wants to dispute the ACH debits as unauthorized transactions under Reg E and have all the money put back in his or her account. Wouldn't they have to return the credits as well? Also, does the bank have to return any NSF fees involved?
09/10/2007
We have a member who has reported his or her ATM card lost which had the PIN number on it. I know that we still have to give provisional credit. Do we also have to give immediate credit for the overdraft advance charges incurred? I need to know where this is in Reg E for proof that I am correct in telling our accounting department we must also give this back when orally given notice of the member's loss.
09/10/2007
When issuing provisional credit to a customer, the customer must be notified within two business days after the provisional credit was given indicating the date and amount of credit. Should the notification include the refund of any NSF fees, or can it simply be the provisional credit of the transaction?
02/12/2007
I am the Electronic Banking Specialist for [Bank Name Withheld]. We are having a debate among ourselves and our Legal Department regarding whether or not check imaging is covered by Reg E. One opinion has to do with whether the check image is truncated or not; another has to do with the intent for imaging, whether as a tool for the merchant to recover funds on a returned item, or as a bank tool to pacify clients who want their checks back. I would appreciate any input that you might offer as you have a more industry-wide view available, as well as experience in compliance and Reg E issues.
02/05/2007
What are the major changes that financial institutions need to make in order to be Reg E compliant as of January 1st?
01/29/2007
What are the major changes that financial institutions need to make in order to be Reg E compliant as of January 1st?
01/29/2007
What should my bank have on file regarding service provider documentation? Some vendors send us tons of paper while others send nothing. What is practical and acceptable?