Decoding Reg E and Nacha Requirements for Debit Card Errors
Debit card fraud is as prevalent as ever, affecting one in five U.S. debit card holders. Do you sufficiently help consumers resolve their debit card fraud issues?
You need to know when Regulation E and NACHA rules apply to a transaction and what errors may occur. To stay in compliance and minimize financial losses, your institution must meet specific time requirements for investigation and resolution of issues related to debit card errors.
- Where does liability fall between the account holder and the financial institution?
- What communications are required in cases of debit card fraud?
- What investigation process should you follow?
- When must you provide a provisional credit?
- How should incidents be tracked? What information must be retained?
- How are chargebacks used with debit cards?
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