Regulation E - Basics and Error Resolution (ACH and Debit Card): Processing, Disclosure and Investigation

Duration: 90 Minutes
In this session, the basics of Regulation E will be covered, which includes some basic definitions, such as how to identify a consumer account and what is an 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 simplified and made clearer. Examples used during this session will help illustrate the handling of unauthorized consumer transactions (error on statement and loss of debit card) with regard to Regulation E and where the liability is applied. As a financial institution you have responsibilities and liabilities under Regulation E for your consumer accounts when there are unauthorized transactions. Included in this 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.
Regulation E
Instructor: Donna K Olheiser
Product ID: 501656
Objectives of the Presentation
  • Identify Regulation E terms and know what they mean
  • Define the limits of liability and who is liable for what amount will be covered in detail while providing some real-life scenarios
  • Details on the error resolution process for the consumer communicating with the financial institution, the research time, and the timing of providing provisional credit
  • List the guidelines to include the "what if" there is no error, and providing notice to consumer
  • Recognize process to follow regarding overdraft protection when the provisional credit is reversed
  • Identify the maximum liability amounts that the consumer is liable for when they experience the loss of a debit card and what the financial institution can do to help minimize losses
Why Should you Attend
Regulation E governs consumer protection when using electronic fund transfers which includes debit card transactions. Financial institutions are required to handle every consumer report of unauthorized entries while being in compliance with Regulation E.

This session will define and explain the types of transactions covered by Regulation E and the requirements pertaining to debit cards dispute resolution for your financial institution. The consumer does have liability and the financial institution has specific responsibilities and steps to take to help resolve errors relating to a lost or stolen access device (a consumers card).

The course will define an error according to the regulation along with the timing requirements for investigation and resolution of unauthorized debit card transactions by you the financial institution. The instructor will also discuss what you must do to minimize a financial institution’s losses.

Areas Covered
  • Regulation E compliance tips when handling unauthorized transactions
  • Definitions for consumer account, access device, electronic terminal and more
  • Identify what is covered by Regulation E and what is not covered
  • Details on "What is an Error" (according to Reg E)
  • Timeframes for consumer when reporting errors to the financial institution
  • Consumer liability and responsibility for unauthorized transactions
  • Loss or theft of Debit card and liability of which party for those transactions not authorized
  • Required communications by the financial institution to the consumer
  • Responsibilities in handling daily debit card investigations
  • Specific disclosure requirements and notification procedures
  • Reg E requirements for closing out the investigation
  • Financial Institution liability and responsibility when handling errors to consumer accounts
  • Use of real-life scenarios to demonstrate how Regulation E is applied when there is an error on the consumer statement and/or the loss of a debit card
Who will Benefit
This webinar will provide valuable assistance to all personnel in:
  • Financial institutions
    • Card Personnel
    • Operations
    • Risk/Compliance Officer
    • Internal Audit
    • AAP Candidates
  • Accredited ACH Professionals, ACH Operations Managers and Staff
  • BSA/Compliance Officers
  • ACH Managers
  • Front Line - Teller and customer service staff
  • Electronic Payments Professionals, Electronic Banking Management and Staff
  • Debit and ATM Card Staff
  • Anyone who wishes to enhance their knowledge of the banking regulations relative to Reg E
Topic Background
Regulation E provides a basic framework that establishes the rights, liabilities, and responsibilities of participants in electronic fund transfer systems for consumers.
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How it works
Live Session - How it works
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  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
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' training experience. She has designed and facilitated over 100 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 and deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences).

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.

She has over 24 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).
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