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The Electronic Fund Transfer Act and Regulation E provide many protections for consumers, which impose many responsibilities and liabilities on financial institutions. Anyone who has attempted to read the regulatory language will agree that Reg E is complicated and, given the rapid changes in the types of electronic transfers, many are confused about when Reg E applies. It is further complicated because there is a legal distinction between a Reg E claim and a merchant dispute under the Visa/MC rules. This webinar will explain how to determine if Reg E applies and how to properly handle ATM and debit card claims under Reg E, including the investigation process, when provisional credit is mandated, determining the proper amount to reimburse the consumer, notices to the consumer, and the specific deadlines.
HIGHLIGHTS
What transactions does Reg E cover?
Financial institution responsibilities under Reg E
Proper handling of Reg E error resolution claims
What can and can’t be required of the consumer
Understanding the distinction between Reg E and the Visa/MC rules
TAKE-AWAY TOOLKIT
Detailed sample form of error resolution procedures, including specific deadlines
Easy-to-follow matrix to determine the dollar amount of the consumer’s liability
Employee training log
Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND? All deposit personnel, tellers, service representatives, new accounts personnel, account officers, managers, auditors, and compliance staff.
ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane LLP, a partner where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.
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