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.
- Best practices for conducting a Reg E investigation
- Circumstances when your financial institution must provide provisional credit
- What can and can’t be required of the accountholder before giving provisional credit
- Specific deadlines for completing the investigation and providing provisional credit
- How to determine the proper dollar amount of provisional credit required by Reg E
- 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
WHO SHOULD ATTEND?
This informative session will benefit all deposit personnel, tellers, service representatives, new accounts personnel, account officers, managers, auditors, and compliance staff.
PLEASE NOTE: The live webinar option allows you to have one internet connection (from a single computer terminal). You may have as many people as you like listen and watch from your office computer.
ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, 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. She is a member of the Missouri State Banking Board by appointment of the Governor.