Provisional Credit Under Reg E: Rules, Best Practices & FAQs
Reg E is designed to protect consumers. If there is an unauthorized EFT, your institution must investigate and, in some cases, provide provisional credit. This session will explain how to assess whether your institution is required to grant provisional credit – and if so, how much.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Understand what constitutes an “unauthorized” transaction for purposes of provisional credit
- Distinguish between what you can and can’t require of the consumer before providing provisional credit
- Explain the specific deadlines for completing an investigation and for providing provisional credit
- Determine the proper dollar amount of provisional credit that is required by Reg E
- Use the best practices for providing provisional credit under Reg E
WEBINAR DETAILS
Regulation E protects consumers from unauthorized electronic fund transfers (EFTs) by requiring your institution to investigate alleged unauthorized EFTs and to provide provisional credit to accountholders within specific deadlines. Did you know that your institution is obligated to conduct an investigation even when your accountholder won’t cooperate? Did you know your institution is obligated to provide provisional credit within the standard deadlines even if you haven’t received sufficient investigative information from your core processor? Conversely, did you know 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 determine when your institution is required to provide provisional credit and in what amount.
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.
