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Electronic Funds Transfers-The Investigation Process
Manage episode 403678288 series 3352301
Conteúdo fornecido por Dean Stockford - Len Suzio. Todo o conteúdo do podcast, incluindo episódios, gráficos e descrições de podcast, é carregado e fornecido diretamente por Dean Stockford - Len Suzio ou por seu parceiro de plataforma de podcast. Se você acredita que alguém está usando seu trabalho protegido por direitos autorais sem sua permissão, siga o processo descrito aqui https://pt.player.fm/legal.
Episode 68 of the podcast discusses the investigation process for Electronic Funds Transfers (EFT) under the Electronic Fund Transfer Act. The hosts, Dean and Len, emphasize the importance of consumer protection in EFT and remittance transfers, outlining the process for consumers to dispute unauthorized or incorrect transactions. They stress that financial institutions must promptly begin investigating disputes upon receiving notice, either oral or written, from the consumer. The regulation mandates strict timelines for these investigations, with institutions having 10 business days to investigate, extendable to 45 or 90 days for certain cases if provisional credit is provided. The episode highlights the need for financial institutions to be aware of and comply with these regulations, including the application of Regulation E to Person to Person (P2P) payments. The hosts conclude by encouraging listeners to stay informed about their institution’s error resolution processes and suggesting future podcast topics.
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