As a financial institution, you have responsibilities and liabilities under Regulation E for your consumer accounts when there are unauthorized transactions. However, the consumer account holder has some liability also. What are the limits of liability and who is liable for what amount will be covered in detail while providing some real-life scenarios.
What is the error resolution process for the consumer communicating with the financial institution and the research time, plus the timing of providing provisional credit and then “what if” there is no error, what are the guidelines for providing notice to consumer and overdraft protection when the provisional credit is reversed? What are the maximum liability amounts that the consumer is liable for when they experience the loss of a debit card? Several intriguing questions will be answered as we use real-life scenarios to demonstrate how Regulation E is applied for an error on the consumer statement to the loss of a debit card. This is a must-attend to help you see Regulation E error resolution in a simple format and demonstration.
Regulation E contains an error resolution process for electronic payments posting to consumer’s accounts. In this session, the basics of Regulation E will be covered, which includes some basic definitions, such as consumer account and access device.
The confusion over the Reg E error resolution process for electronic fund transfers (EFTs) and the loss of a debit card will be covered. Examples used during this session will help illustrate the handling of unauthorized consumer transactions with regard to Regulation E and where the liability is applied (Hint: It is not always the financial institution – the “consumer” does carry some liability).
Included in his session is an opportunity for attendees to apply the basics of Regulation E and the error resolution timeframes and processes as provided in this webinar, as the trainer walks attendees through some real-life scenarios.
Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years’ experience. She has designed and facilitated over 150 training sessions each year with her expertise being the rules for companies and financial institutions when processing electronic (specifically ACH) payments, then scheduling the events to facilitate/deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences).
Ms. Olheiser is also an experienced project manager managing education programs for organizations per their requests on processing electronic payments while developing personalized training programs for financial institutions.She has over 23 years of experience in the financial services industry which includes 9 years’ experience as the education service director at a Regional Payments Association (RPA), where she managed and facilitated the entire education program for nearly 800 financial institution members. Prior to that, Ms. Olheiser spent 14 years in various departments with the Federal Reserve Bank of Minneapolis and also holds the Accredited ACH Professional (AAP) designation (achieved in 2004).
Her extensive knowledge, enthusiasm, and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Ms. Olheiser’s ability to engage the learner through the entire training event helps the adult learner apply what they’ve learned during and after each training session.