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Electronic Returned Items: Meeting Error Resolution Requirements & Combating Fraud

In this session we will review instances where institutions have failed to comply with Reg E or misapplied the regulation and provide you with best practices and tools to avoid a similar fate.

OnDemand
Recorded Thursday,
September 16th, 2021
Presented by Dawn Kincaid
1h 30m total length
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Deposit Accounts
  • Compliance Officer
  • Deposit Operations Manager/Specialist
  • Internal Auditor
  • Risk Manager

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Regulation E has ranked third in the number of cited violations and enforcement actions during the last couple of years, behind Regulation Z and Regulation DD. In this session we will review instances where institutions have failed to comply with Reg E or misapplied the regulation and provide you with best practices and tools to avoid a similar fate.

According to a recent survey, annual ACH and debit card usage increased by 6% and 10% respectively. Consumers appreciate the convenience of conducting transactions electronically. This increased ease of access also exposes them and us as their financial institution to elevated exposure to account compromise and card fraud.

Among its provisions, Regulation E limits consumer liability for unauthorized transfers, and promulgates procedures for the resolution of errors alleged by consumers, including unauthorized and fraudulent ACH and card transactions. In this session we will review the specific error resolution requirements of Reg E, discuss procedural best practices and provide tips on documenting your investigation. In addition, we will detail how to review your error resolution process, including how your audit procedures can help mitigate risk for both the accountholder and your institution.

What You'll Learn

  • Review of consumer liability under Regulation E
  • Clarification of what errors trigger the EFT error resolution process
  • Explanation of error resolution timing requirements
  • Discussion of process to follow when you’ve wrapped up your investigation
  • Description of recordkeeping requirements
  • Overview of error resolution audit procedures

Learn caption

This informative session will benefit operations personnel, compliance officers, risk officers, internal audit and personnel responsible for debit card/ACH transactions.

Dawn Kincaid

Instructor Bio

Dawn Kincaid began her banking career while attending The Ohio State University. She has 19 years of experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized the implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits, and exams, and presented for numerous state associations.

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