Webinar: Provisional Credit Under Reg E: Rules, Best Practices & FAQs
March 6, 2024 3:00 pm - 4:30 pm
Reg E safeguards accountholders from fraudulent EFTs.
Can you identify an unauthorized EFT and do you know how to proceed? Is provisional credit in order? Being able to confidently handle these issues is important to both your financial institution and your accountholder. Join us to learn the ins and outs of Reg E’s requirements for investigations, provisional credit, and consumers’ rights.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Understand what constitutes an unauthorized transaction for purposes of provisional credit under Reg E
- Distinguish between what can and can’t be required of the accountholder before giving provisional credit
- Specify the deadlines for completing an investigation and providing provisional credit
- Determine the proper dollar amount of provisional credit required by Reg E
- Employ best practices for providing provisional credit
WEBINAR DETAILS
Regulation E protects consumers from unauthorized electronic fund transfers (EFTs). It requires financial institutions to investigate alleged unauthorized EFTs and provide provisional credit to accountholders within specific deadlines. But many questions arise.
Is your institution obligated to investigate even though the accountholder won’t cooperate? Must provisional credit be provided within the standard deadlines even if you haven’t received sufficient information from your core processor to conduct an investigation? Are you required to provide provisional credit if the accountholder won’t sign a simple written statement regarding the alleged unauthorized
EFT?
This webinar will answer all these questions and explain how to determine when your institution is required to provide provisional credit and in what amount.
WHO SHOULD ATTEND?
This informative session will benefit all deposit operations staff, tellers, service representatives, new accounts personnel, account officers, managers, auditors, attorneys, and compliance staff.
TAKE-AWAY TOOLKIT
- 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
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
Speaker: Elizabeth Fast, Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane 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.