Regulation E sets forth the legal framework for investigating alleged unauthorized electronic fund transfers (EFTs) and providing provisional credit to accountholders within specific deadlines. Do you know that your institution is obligated to provide provisional credit even when an accountholder won’t file a police report or otherwise cooperate with you? However, your institution isn’t required to provide provisional credit if the accountholder won’t sign a simple written statement regarding the alleged unauthorized EFT. These nuances and other unique requirements of Reg E can be confusing. Join us to learn how to properly manage alleged unauthorized EFT investigations and provide provisional credit in compliance with Reg E.
- Best practices for conducting a Reg E investigation
- When must provisional credit be provided?
- What can and cannot be required of the accountholder before giving provisional credit?
- Specific deadlines for completing an investigation and providing provisional credit
- How to determine the proper dollar amount of provisional credit required by Reg E
- TAKE-AWAY TOOLKIT
- Detailed sample investigation procedures, including the deadlines for providing provisional credit
- Easy-to-follow matrix to determine the provisional credit dollar amount
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session will benefit all deposit personnel, tellers, service representatives, new accounts personnel, account officers, managers, auditors, and compliance staff.
SPEAKER: Elizabeth Fast, Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane Britt & Browne LLP 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.