Regulation E – The Basics and Error Resolution - NASBA CPE 1
- Speaker:Donna K Olheiser, AAP
- Product Code:GRC-NR14
- NASBA CPE: 1.5
NASBA CPE Credits: 1.5
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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 can be complicated.
Examples and stories used during this session will help illustrate the handling of unauthorized consumer transactions about Regulation E and where the liability is applied (Hint: It is not always the financial institution – the “consumer” does carry some liability).
Why You Must Attend:
As a financial institution, you have responsibilities and liabilities under Regulation E for your consumer accounts when there are unauthorized transactions.
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.
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.
This 90-minute information-filled session covers key terms with Regulation E and what they mean to the consumer and financial institution.
We will also discuss and define the limits of liability and who is liable for what amount while providing some real-life scenarios. Details on the error resolution process for consumer notification to the financial institution, research time involved, and the timing of providing provisional credit; included will be guidelines on the “what if” there is no error, and providing notice to consumer, and any overdraft protection relating to that provisional credit being reversed.
Included in the discussion will be liability (maximum amounts) of the consumer and financial institution when there is the loss of a debit card.
Areas we will Cover:
- Identify what is covered by Regulation E and what is not covered
- Details on “What is an Error”
- 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
- Financial Institution liability and responsibility when handling errors to consumer accounts
You will Benefit the most:
- Financial Institution CEO’s and CFO’s
- ACH Operations staff
- Compliance Officers
- ACH Managers
- Electronic Payments Professionals
- AAP’s – keeping up with changes in ACH Rules
- Financial Institutions
- ACH Operations Departments
- Audit Departments (within financial institutions)
This Webinar is eligible for 1.5 NASBA CPE Credits
Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC.
Donna 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/deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences).
Donna 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).