Debit card disputes are complicated. Allow a SHAZAM Reg E expert to uncomplicate the specifics for you.
posted by Diana Kern, AAP on Wednesday, August 18, 2021 in SHAZAM Blog
Regulation E is a straightforward concept, yet the language can be complicated. And applying the regulation to each dispute situation is often not a black-or-white matter — many details fall in a gray area. SHAZAM recently teamed up with Payments Professor Kevin Olsen to discuss the specifics in a podcast.
Under Reg E, financial institutions are obligated to investigate consumer dispute claims regarding unauthorized debit card EFTs within 60 days of transmission of the consumer’s account statement. But even the definition of ‘unauthorized’ can quickly bleed into a gray area.
SHAZAM senior client learning consultant Diana Kern joined Payments Professor Kevin Olsen’s podcast to discuss, in layman’s terms, how to comply with Reg E while simultaneously trying to protect your financial institution’s interests. The podcast conversation is fun, yet very insightful, and part one in a two-part Reg E series. Have a listen and stay tuned for part two.
Should you have any questions, contact Diana. Feel free to share this uncomplicated information with others.
SHAZAM, Inc. and ITS, Inc. provide this blog for general informational purposes only. Our blog may be shared by a direct link wherein the content remains as originally presented and has not been altered. SHAZAM, Inc. and ITS, Inc. assume no responsibility for errors or omissions in the contents on the blog. By using this blog, reader agrees that the information published does not constitute nor is a substitute for legal advice which should only be sought from a qualified, licensed attorney.
comments powered by