Most Popular Technology Content
E-Statement Retention - Fed Rules
10/29/2007
Has the Fed set out final rules on retention of E-statements yet? Until we get a final rule, what is the standard for keeping e-disclosures & making them available to customers?
Corporate VISA Cards - Non-fraud Disputes
10/29/2007
Our credit vendor does not place disputed amounts on hold for corporate VISA cards. They continue to be included in the balance amount due and also are subject to finance charges. This is only for non-fraud disputes. This is contrary to consumer VISA cards where the disputed amount is removed from the balance and then the amount due is calculated off of the remaining balance. I am not sure which rule or regulation allows or does not allow for this. Is it safe to assume that because corporations are not protected by Reg E that this may be why non-fraud disputes are treated differently for corporations?
Fair Housing Poster on Bank Website
10/22/2007
We have started accepting applications for mortgage loans online. Would there be any requirement or need to have a reproduction of the fair housing poster on the site? The regulation says that these fair housing posters should be displayed so that all persons seeking to engage in residential real estate related transactions would be able to see it. In our online process, our customers could theoretically complete the whole loan without ever stepping foot into one of our offices. In those cases, they would never see the poster.
Electronic Listing of R Codes
10/22/2007
Where can I get a list of return reasons electronically? I have been asked to provide an electronic listing of "R codes", (R01 NSF, R02, account closed) but I have been unable to locate them to fulfill this request.
Debit Card Reported Stolen - FI's Responsibility
10/22/2007
If a debit card holder has his or her card stolen and PIN based withdrawals are made on the debit card by the culprits, what is the responsibility of the financial institution from which the debit card was issued? Assuming that the theft was reported timely under Reg E requirements.