Regulation E - Basics and Error Resolution

Under Regulation E, financial institutions carry responsibilities and liabilities when unauthorized transactions hit consumer accounts, and consumers carry some liability too. This 90-minute Regulation E basics and error resolution webinar explains the limits of liability and who is responsible for what amount.

You'll learn what Reg E is and whom it applies to in the ACH network and card world, along with key terms such as consumer account, access device and electronic terminal.

Real-life scenarios walk you through the error resolution process: the consumer's notice, research time, when to give provisional credit, what to do if no error is found, notices to the consumer and overdraft protection when provisional credit is reversed, and maximum consumer liability for a lost or stolen debit card.

• Define Regulation E and whom it applies to in ACH and card payments
• Explain Reg E terms such as consumer account and access device
• List the steps of the Reg E error resolution process for electronic fund transfers
• Determine responsibility when a consumer loses a debit card
• Handle specific types of unauthorized transactions under Reg E
• Decide when the financial institution or the consumer is liable using examples

• Regulation E compliance tips for handling unauthorized transactions
• Definitions of consumer account, access device, electronic terminal and more
• Timeframes for consumers to report errors to the financial institution
• Consumer liability and responsibility for unauthorized transactions
• Lost or stolen debit cards and which party is liable for unauthorized use
• Financial institution liability and responsibility when handling errors on consumer accounts

Error resolution under Reg E has strict timeframes and liability rules, and mistakes can be costly. This session shows the rules in a simple, scenario-based format, from a statement error to a lost debit card.

It suits ACH operations staff and managers, compliance officers, electronic payments professionals, and current or aspiring AAPs keeping up with ACH rules or earning continuing education credits.

• ACH Operations Staff
• Compliance Officers
• ACH Managers
• Electronic Payments Professionals
• AAPs – (current AAPs and aspiring AAPs) keeping up with changes in ACH rules and are interested in sitting for the AAP exam in October, or wanting to earn AAP Continuing Education (CE) credits to keep their AAP designation

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).