Reg E – How Expensive Is A Compliance Mistake?
E-Commerce sales are expected to reach nearly $80 billion this holiday season, accounting for 9% of total U.S. retail sales.
Will this increase the potential for cyber attacks and compromised debit cards? Will your financial institution experience more debit card fraud investigation in 2016?
We’ll focus on simple steps to handle Reg E customer disputes and inquiries. Understanding the rules will help you satisfy regulators and can also SAVE YOUR FINANCIAL INSTITUTION MONEY by only paying claims you’re required to reimburse for unauthorized transactions.
Learn steps required to handle disputes and inquiries, and time frames for resolving a claim for an unauthorized transaction. The only way you can be sure your front line staff complies with this high-profile consumer protection regulation is to provide effective training and sound procedures.
- 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? Learn practical suggestions for conducting an investigation.
- Resources to educate customers about fraud prevention.
Customer Service Reps, New Account Reps, Teller Supervisors, Deposit Operations Staff, Security and Compliance Officers. NOTE: We will NOT address Visa or MasterCard zero liability rules.
“Very thorough information received and great examples.” -Karen W., CenterBank
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 37 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 CE Credits
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