Description
Ensure your error resolution process satisfies regulatory requirements.Regulation E is a consumer protection regulation implemented by the CFPB to enforce the Electronic Funds Transfer Act. The law and regulation basically make the financial institution liable to the consumer for any unauthorized EFT regardless of the consumer’s negligence. The financial institution is required to follow all the provisions of the law and the regulation, including the error resolution procedures, and failure to do so could result in the loss of the amount of the unauthorized EFT but also treble damages.This topic will help you identify unauthorized EFTs, understand the requirements of and how to comply with the error resolution procedures, how to avoid treble damages, and substantially reduce the potential enforcement actions by a regulatory agency for failure to comply with the EFT Act and Regulation E.
Date: 2023-12-12 Start Time: End Time:
Learning Objectives