Discovering Regulation E: The Basics & Error Resolution

In this 90-minute session, the basics of Regulation E will be covered, which includes some basic definitions, such as consumer account and access device.

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, providing notice to the consumer, and any overdraft protection relating to that provisional credit being reversed.

Included in the discussion will be the liability (maximum amounts) of the consumer and financial institution when there is the loss of a debit card.

• Timeframes for consumers 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 in consumer accounts
• Identify what is covered by Regulation E and what is not covered
• List details on “What is an Error”
• Describe the maximum dollar amount of liability for a lost or stolen access device (both consumer and FI)
• Define the Error Resolution Process including timeframes

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 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.

• Bank operations staff
• New employees in the payments industry
• Bank managers and payment professionals
• CEOs and CFOs
• Risk, Compliance, and Audit personnel
• Aspiring AAPs and current AAPs for AAP CE 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 specifically ACH electronic payments, then scheduling the training 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).