Reg E – How Expensive Is A Compliance Mistake?
The FBI has warned retailers to prepare for more cyber attacks like the one hit over 70 million Target customers in the 2013 holiday season. Will your financial institution experience more debit card fraud investigation in 2014?
Our topic for the webinar will focus on several simple steps to handle Electronic Funds Transfer Act (Regulation E) customer disputes and inquiries. Understanding the rules will help you satisfy the regulators but can also SAVE YOUR FINANCIAL INSTITUTION MONEY by only paying the claims that you are required to reimburse for unauthorized transactions. We will review the steps required to handle disputes and inquiries and the time frames for resolving a claim for an unauthorized transaction. The only way you can be sure that your front line staff is complying with this high-profile consumer protection regulation is by providing effective training and sound procedures.
Reg E has a new section Subpart B for “foreign remittance transfers” that became effective October 28, 2013*. Can you prove your bank is “exempt” from the coverage of the foreign remittance rules under the “normal course of business” safe harbor?
- The basic disclosure requirements of Reg E and the definitions that guide the error resolution process.
- What questions should you ask a customer about a disputed transaction?
- What are five “best practices” for handling a Reg E dispute?
- What should be included in an investigation report?
- How do you determine if a customer is liable for an unauthorized transaction? You’ll learn practical suggestions for conducting an investigation.
This webinar will benefit Customer Service Reps, New Account Reps, Teller Supervisors, Deposit Operations staff, Security and Compliance Officers. NOTE: This webinar will NOT address Visa or MasterCard zero liability rules.
Susan Costonis is a compliance consultant and trainer. She frequently provides consulting services to financial institutions regarding fair lending and other compliance management issues. Her 34 year career in banking and training began with 20 years at First National Bank, an affiliate of Wells Fargo Bank, in Fort Collins, CO. Susan has been a bank compliance consultant or compliance officer in Louisiana since 1998.
During her career, Susan has successfully managed compliance programs and exams for institutions supervised by the OCC, FDIC, and Federal Reserve. She is a Certified Regulatory Compliance Manager and completed the ABA Graduate Compliance School and the Graduate Banking School of the University of Colorado. Susan regularly presents seminars to financial associations.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 hrs.
Either Live or 6-Month On-Demand Webinar: $255
Both Live and 6-Month On-Demand Webinar: $355
Online: Click here.
Phone: Call Total Training Solutions at (800) 831-0678
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