Most Popular Technology Content
Disputing ACH Debits on a Pay Day Loan
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?
Small Business Accounts - ATM &Check Cards
09/17/2007
We have recently started offering ATM and Check cards to our consumer customers. Some of our small business account customers are now requesting an ATM and Check card. These customers are classified as business accounts on our system. Can we issue these business accounts the same card we are giving to our consumer accounts and if so, does Reg E apply to the business accounts with this card?
Reg E - Recurring Service Cancelled by Customer
09/17/2007
Could you direct me to some guidance with regard to Reg E disputes relating to claims by client that he/she has cancelled a recurring service? We seem to get confused as to what we need to be doing from a compliance perspective vs. what our card processor (acting on our behalf with Visa) requires in terms of documented actions taken by the client to resolve the charges assessed after the alleged cancellation.
Reg. E Disclosure for Online Banking
09/17/2007
We provide the Reg. E initial disclosure at account opening (face to face). We offer online banking services. When our customer signs up for that service do we have to give the entire Reg. E initial disclosure again, if it hasn't changed since they opened the account?
Credit Account for ODs from Lost ATM Card?
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.