Regulation E - The Basics and Error Resolution

Financial institutions have responsibilities and liabilities under Regulation E for consumer accounts when there are unauthorized transactions. However, the consumer account holder has some liability too. This webinar training will explore the limits of liability and help attendees understand who is liable for what amount, aided with real-life scenarios.

Why Should You Attend:

What is the error resolution process for a consumer communicating with the financial institution and the research time, plus the timing of providing provisional credit and then “what if” there is no error, what are the guidelines for providing notice to consumer and overdraft protection when the provisional credit is reversed?

What are the maximum liability amounts that the consumer is liable for when they experience the loss of a debit card?

This webinar will address several intriguing questions and use real-life scenarios to demonstrate how Regulation E is applied for an error on the consumer statement to the loss of a debit card. This is a must-attend to help you see Regulation E error resolution in a simple format and demonstration.

Learning Objectives:

• Define Regulation E, what it is and who does this apply to in the ACH network and card world
• Provide the meaning to Reg E terms such as consumer account and access device
• List the steps involved in the Reg E error resolution process for electronic fund transfers (EFTs)
• Identify what happens when the consumer experiences the loss of a debit card (who’s responsible for what?)
• Illustrate examples of how to handle specific types of unauthorized transactions relative to Reg E
• Describe when and to whom a specific party is liable (financial institution and/or consumer) by using specific examples

Areas Covered in the Webinar:

• Regulation E compliance tips when handling unauthorized transactions
• Definitions for consumer account, access device, electronic terminal and more
• Timeframes for consumer when reporting errors to the financial institution
• Consumer liability and responsibility for unauthorized transactions
• Loss or theft of debit card and liability of which party for those transactions not authorized
• Financial institution liability and responsibility when handling errors to consumer accounts

Who Will Benefit:

• ACH Operations Staff
• Compliance Officers
• ACH Managers
• Electronic Payments Professionals
• AAPs - (current AAPs and aspiring AAPs) keeping up with changes in ACH rules and interested in sitting for the AAP exam in October, or wanting to earn AAP Continuing Education (CE) credits to keep their AAP designation