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A-Z of Reg E
(Presented By: Andy Zavoina)
Regulation E is more than just the investigations of claims for unauthorized use. There are disclosure requirements, rules for the issuance of an access device, liability disclosures, contract issues when you offer a branded debit card.
 | WEBINAR TIME:
11:30AM - 1:30PM PT
12:30PM - 2:30PM MT
1:30PM - 3:30PM CT
2:30PM - 4:30PM ET |
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Regulation E is more than just the investigations of claims for unauthorized use. There are disclosure requirements, rules for the issuance of an access device, liability disclosures, contract issues when you offer a branded debit card.
But there is still a focus on the claims for unauthorized withdrawals from a customers account. These can be handled in one of three ways:
- They can all be refused and the bank saves money.
- They can all be paid and the customers are happy.
- They can be properly investigated and paid according to the regulation.
Obviously there is one way to do this without exposing the bank to needless liability, civil money penalties and without emptying the vault to fraudsters. You have to know when a claim is valid and has to be paid, and when it is not. Otherwise, you are cheating the bank, or the customer.
Regulation E hasn't changed in years, but that doesn't mean there is not a lot of confusion and loss. Electronic transactions are increasing each year. More cards, more claims, more losses.
What You Will Learn:
- Regulatory hotspots, what is being violated and how to avoid it in your bank
- Tips and tricks to effectively compute liability for unauthorized withdrawals. We'll go through several claim scenarios so you have a firm understanding of what is and is not a valid claim
- The definitions that guide the regulation
- What is a covered EFT
- Exceptions and special provisions
- What are the liability limits for unauthorized withdrawals
- Ways the compliance officer can audit the process
- Bonus tools and workpapers/templates will be avaialable to help improve your Reg. E procedures.
Disclosure issues still lead to complaints at the regulator's customer assistance areas. It is important that your staff have the basics of Reg. E clearly understood. It is equally important that you understand the claims procedures. If claims are done wrong once, and then continue that way, the losses can be extreme and that doesn't even allow for the cost of doing file searches and notifications to customers that you are reviewing their old, previously denied claim. You need the confidence that everyone is following the same procedure and that it is according to the regulation, no more, no less.
This is not a review of ACH regulations or chargeback rules. Branded debit cards will be discussed as they relate to general rules and Regulation E.
About the speaker:
Mr. Andy Zavoina, CRCM, is a consultant with the Glia Group, best known for its involvement with BankersOnline.com.
Andy has been in finance and banking for 22 years. Over 20 years were with a holding company with two Central Texas community banks that had $534 million in assets, 89 branches spanning Texas and nearly 500 ATMs. After starting in loan workouts, Mr. Zavoina has been a consumer, commercial and real estate lender and managed those departments as well as being the banks first Webmaster. He was responsible for compliance- management, -auditing, and -training for both banks.
Andy is a past Chairman of the American Bankers Association's Compliance Executive Committee. He was the 2003 recipient of the American Bankers Association's Distinguished Service Award for his involvement and accomplishments in the field of regulatory compliance management. He currently serves on the Editorial Advisory Board for the ABA's Compliance Magazine, Compliance Action magazine, is a member of the ABA's Compliance School Board and is a BankersOnline Guru. He also served on the Texas Bankers Association's Compliance Committee.
He is a graduate of the ABA National Commercial Lending School, National Compliance and National Graduate Compliance School and is a Certified Regulatory Compliance Manager with the Institute of Certified Bankers. He has written numerous articles and lectured on compliance, the use of the Internet and technology as a tool, as well as compliance in cyberspace to local, state and national associations. Internet policies and other compliance related programs are made available on his personal Web site.
More information...
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888.229.8872