Regulation E Series: Legally Handling ATM & Debit Card Claims Under Regulation E

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Regulation E protects consumers from unauthorized ATM and debit card transactions, which imposes many responsibilities and liabilities on financial institutions. Fraud losses continue to increase from counterfeit ATM/debit cards and the unauthorized use of validly issued ATM/debit cards. Reg E is a complex set of rules and deadlines that must be followed when responding to accountholder claims. Did you know that the Reg E rules are different depending on whether an ATM/debit card or other access device was actually used in the transaction? This webinar will explain how to properly handle all types of unauthorized ATM/debit card claims and how to accurately calculate the amount, if any, that must be reimbursed to the accountholder.  

HIGHLIGHTS

  • What constitutes an unauthorized transaction under Reg E?
  • Responsibilities to the accountholder under Reg E and related deadlines 
  • How to calculate your institution’s liability under Reg E depending on whether an ATM/debit card or other access device was used
  • What your institution can and can’t require of the accountholder
  • Who is liable for counterfeit ATM/debit cards?

TAKE-AWAY TOOLKIT

  • Easy-to-follow matrix to determine the dollar amount of your institution’s liability
  • Model Reg E disclosures explaining the accountholder’s liability
  • Employee training log
  • NEW – Interactive quiz

WHO SHOULD ATTEND?
This informative session will benefit all deposit staff, tellers, service representatives, new accounts personnel, account officers, managers, auditors, attorneys, and compliance staff.

ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor. 

Originally recorded on July 17, 2019.

Recorded webinar is available until January 31, 2020.

Free Digital Copy included with purchase to download and view beyond link expiration date.

Price includes sales tax.