It’s hard enough to have an accountholder alleging an EFT error. But do you know what to do next? Are you required to provide provisional credit or not? What are the deadlines? What if your accountholder won’t cooperate with the investigation? What if you don’t know the answers to these questions?
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Employ best practices for conducting a Reg E investigation
- Know when provisional credit must be provided
- Distinguish between what can and can’t be required of the accountholder before giving provisional credit
- Meet specific deadlines for completing investigations and providing provisional credit
- Determine the proper dollar amount of provisional credit required by Reg E
Regulation E sets forth the legal framework that requires your institution to investigate alleged errors and unauthorized electronic fund transfers (EFTs) and to provide provisional credit to your accountholders within specific deadlines. Did you know that your institution is obligated to conduct an investigation even though your accountholder won’t cooperate with the investigation? Did you know your institution is obligated to provide provisional credit within the standard deadlines even though you haven’t received sufficient information from your core processor to conduct an investigation? Conversely, did you know that you aren’t required to provide provisional credit if the accountholder won’t sign a simple written statement regarding the alleged unauthorized EFT? This webinar will explain how to properly investigate alleged errors and unauthorized EFTs and when to properly provide provisional credit.
WHO SHOULD ATTEND?
This informative session will be useful to all deposit personnel, tellers, service representatives, new accounts personnel, account officers, managers, auditors, attorneys, and compliance personnel.
- Detailed sample form of investigation procedures including specific deadlines for providing provisional credit
- Easy-to-follow matrix to determine the dollar amount of provisional credit
- Employee training log
- Interactive quiz
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.