Regulation E Myths Bust скачать в хорошем качестве

Regulation E Myths Bust

Ready to learn more about Regulation E? Check out the full training. https://store.bankerscompliance.com/l... Need more free deposit operations related tools? Check them out! https://store.bankerscompliance.com/l... There are a lot of misunderstandings when it comes to regulation E: error resolutions. For instance, the customer has to put it in writing, or they have to make the claim within 60 days, or they have to resolve it with the merchant. Hi, Dave Dickinson with Bankers Compliance Consulting. I want to myth bust these, these improper understandings. Customers don't have to tell you within 60 days, now they lose some rights and you don't have to do certain things, but you still must investigate no matter how long it's been. They have to go back to the merchant, let me put it this way, your customer, your problem. You issued the card, you gave it to that customer, doesn't matter if they went to an ATM owned by somebody else and didn't get all the money, or they went to a merchant, you have to resolve this. All they have to do is verbally tell you. The third myth that I brought up there is they have to put things in writing. No, unfortunately, they don't. They can make a phone call. They do have to be able to identify who they are and their account in a sense that you know who you're talking to and what about, and then what transactions, but they don't have to put anything in writing. Now you might say Dave, our vendor requires us to put it in writing, or go back to the merchant or things, those are contract issues between you and your vendor, you cannot put those on your customers. I like to say you can't take people's rights away from them, and the regulators wrote Regulation E and said, here's the rules. You can't raise that bar of burden on the customer. You can't change the rules on them. Although you may not get reimbursed because your customer didn't follow these rules that your vendor has, that's just a cost of doing business unfortunately. Unfortunately there's a lot of things like this in Reg E where you may not be able to get fully reimbursed, but we still have to comply. I hope this helps you understand some of the misconceptions or myths that we find in regulation E. Thanks for watching.