According to a recent survey, annual ACH and debit card usage increased by 6% and 10% respectively. Consumers appreciate the convenience of conducting transactions electronically. This increased ease of access also exposes consumers and their financial institutions to elevated risk of account compromise and card fraud.
Among its provisions, Regulation E limits consumer liability for unauthorized transfers, and promulgates procedures for resolving errors alleged by consumers, including unauthorized and fraudulent ACH and card transactions. This session will review the specific error resolution requirements of Reg E, address procedural best practices, and provide tips on documenting your investigation. It will also detail how to review your error resolution process, including how audit procedures can mitigate risk for accountholders and your institution.
- Consumer liability under Regulation E
- Clarification of which errors trigger the EFT error resolution process
- Error resolution timing requirements
- Process to follow when you’ve wrapped up your investigation
- Recordkeeping requirements
- Overview of error resolution audit procedures
- TAKE-AWAY TOOLKIT
- Error resolution flow chart
- Sample error resolution log
- Sample Reg E procedures
- Employee training log
- NEW – Interactive quiz
WHO SHOULD ATTEND?
This informative session will benefit operations personnel, compliance officers, risk officers, internal auditors, and staff responsible for debit card/ACH transactions.
SPEAKER: Dawn Kincaid, Brode Consulting Services, Inc.
Dawn Kincaid began her banking career while attending The Ohio State University. She has 17 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, and coordinated internal and external audits and exams.