March 2008

Issue 41

Forward To A Colleague

Feature

Preventing a Nasty Aftermath

It's easy to make honest mistakes with Regulation E

Part 2 of 2 by Lori Moore, Director of Compliance

Part one of this two-part series covers the good and bad of electronic payments, a booming process for making payments. With the growth comes more errors and unauthorized transaction claims subject to the rules of the Electronic Funds Transfer Act (EFTA) also known as Regulation E (Reg E).

Reg E's complexity coupled with the introduction of many payment products and tools challenge financial institutions and their employees in understanding the applications and liability.


 

Editorial Corner

Two scary Reg E scenarios

Trey Sullivan

Last month's feature story explored the problems customer service reps can run into with electronic payments processing. Part two, in this month's feature article shares two scenarios that show how easy it is to violate Reg E without training.

Are there any aspects of Reg E you would like to see automated? Take our quick survey and let us know. We’ll report on reader feedback in our next issue.

Be sure to check out the six additional articles relating to fraud and AML monitoring, change management and government regulations.

To keep this newsletter's content useful to you, we ask for your involvement. Please let us know if we're covering topics of interest to you, share problems you run into and send ideas for articles you'd like to see. Take our brief reader survey for a chance to win an Apple iPod nano.

If you would like to unsubscribe from this newsletter, please click on link at the bottom of the page.
 

Spotlight

WatchDOG for Reg CC

An automated solution that:

  • Calculates hold times

  • Provides proper customer disclosures

  • Provides proof of compliance

More Details
 

Reader Survey

Complete our 1-minute reader survey and you could win an Apple iPod nano.


 

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Publications

ABA Banking Journal Online

Bank Director

BAI Banking Strategies Magazine

Bank Systems & Technology

Bank Technology News

Credit Union Journal Daily

Credit Union Times

Institutional Investor Magazine
 

Resources

USA PATRIOT Act
(Full Text PDF)


 

Associations

American Association of Bank Directors (AABD)

America's Community Bankers

[ More ... ]


 

Give us your opinion on Reg E

Give us your opinion on Reg E

 

After reading this issue’s feature story and last issue's feature, are there any aspects of Reg E that you would like to see automated? For example: claim acceptance and documentation, customer notification, liability calculations, etc. Please take our 3-minute survey and give your opinion. 

We’ll report on reader feedback in our next issue. Thanks and we’ll also enter you in our drawing for an Apple iPod nano.

Take 3-minute survey.


 

Fraud and AML Monitoring: Stay ahead of the bad guys

FinCEN Releases Ninth Issue of SAR Activity Review

Over 4.1 million SARs reported by June 2007

from FinCEN
 

Can You Capitalize on the Subprime Spiral?

Savvy but conservative loan and credit operations can make big gains

by Gary R. Crum - Bank Director Magazine
 

Change Management: Survive and thrive

Finance: Building Confidence

How enterprise risk assessments change the way managers think about risk

by James DeLoach - American Executive
 

Beyond Bankers' Hours

Extended hours benefit banks

by Brian Diepold and Steve Rymers - Banking Strategies
 

Government Regulations: Keep up with your changing environment

DOD Credit Regs Demand Attention

Talent Amendment rules may not miss your bank

by Nancy D. Castiglione - ABA Banking Journal
 

Assessment Fees Drop Courtesy of OCC

Last revision occurred in 1992

from OCC
 

Archive

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 Editorial Team

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