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Error Resolution Under Reg E: Implementing Policies and Practices to Avoid Mistakes

Increased debit card usage has led to increased exposure to unauthorized activity. In this session, we will address what actually constitutes an error under the regulation, what you need to do to comply with investigation requirements, and how to avoid mistakes during the error resolution process.

OnDemand
Recorded Thursday,
January 25th, 2024
Presented by Dawn Kincaid
1h 30m total length
2.5 CRCM Credits
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Deposit Compliance
  • Fraud
  • General Compliance
  • Risk Management/Legal
  • Transaction Compliance
  • Deposit Operations Manager/Specialist
  • Internal Auditor

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Consumers appreciate the convenience of conducting transactions electronically. This increased ease of access also exposes them, and you as their financial institution, to elevated exposure to account compromise and card fraud. Additional fraud has led to increased error resolution claims. In each of the last several years, examiners have cited Reg E errors in their top five regulatory issues during compliance exams.

In this session, we will detail how to avoid Reg E violations cited by examiners. We will review the specific error resolution requirements of Reg E, discuss procedural best practices, and provide tips on documenting your investigation. 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. 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 the process to follow when you’ve wrapped up your investigation
  • Description of recordkeeping requirements
  • Overview of error resolution audit procedures

Who Should Attend

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.


Continuing Education Credit Information

Error Resolution Under Reg E: Implementing Policies and Practices to Avoid Mistakes has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for Live attendance only. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.