Course description

Regulation E came back into the news in a big way when the CFPB levied a $3.5 million civil money penalty and $12 million in restitution against an institution for incorrectly processing dispute claims. In December 2021 the CFPB issued several FAQs relating to the proper handling of claims with a particular focus on person to person (P2P) payments. The FAQs redefined the financial institution’s responsibility when a consumer’s third-party login credentials are compromised. A proper understanding of which claims we must pay and which we can deny is critical to managing our risk. Compliance with Regulation E places financial risk on an institution when paying customer claims, but these risks can be significantly amplified when combined with the compliance risks and reputation risks of getting the claims process wrong. Don’t let your institution fall into the trap of shortsightedly denying claims without adequate investigation or misapplying conflicting Visa and Regulation E requirements. Join BOL Guru Brian Crow for a detailed exploration of both the regulatory and contractual requirements your institution has when processing debit card disputes.


Specific Areas Covered:

  • Visa chargeback process updates
  • Zero Liability coverage vs. Reg E liability schedule
  • CFPB Reg E FAQs
  • Business debit cards
  • Proper handling of a chargeback when Regulation E also applies
  • Reg E investigation tips
  • Enforcement Actions relating to Regulation E investigation procedures
  • Dispute resolution procedures

 

Bonus Material:

  • Written materials summarizing various dispute types
  •  Chart identifying which claims Reg E covers
  •  Highlights of chargeback filing timeframes


Instructor(s)

Brian Crow

Brian Crow is managing partner and co-president for TCA Compliance and is a nationally recognized BSA/AML expert with a strong bank compliance management background and a welcome ability to provide focused educational support to TCA client banks. Mr. Crow most recently was BSA Administrator for a suburban Chicago bank, where his responsibilities included the bank’s annual assessment and audit documentation. Earlier, as Operations Officer at the same bank, Mr. Crow monitored AML activity and helped install automated AML software that allowed the bank to transition from paper to electronic CTRs. His activities were responsible for reducing debit card fraud by 95 percent at the bank. Mr. Crow has been, and continues to be, an education consultant for the Glia Group BOL Learning Connect program, conducting webinars that have covered VISA/MasterCard chargebacks, debit card compliance and fraud prevention for hundreds of banks. It was in this role that Mr. Crow was recognized as a Bankers Online Guru in 2011. Like many of us, Mr. Crow began his banking career as a teller, working his way up to head teller and then branch management responsibilities. He earned a B.A. degree from Concordia University, River Forest, Illinois.

Course curriculum

  • 1

    Visa & Regulation E Dispute Resolution

    • Watch Playback
  • 2

    Materials

    • Slides

    • Materials

    • Questions and Answers

Reviews