Why Should You Attend:
As a financial institution, you have responsibilities and liabilities under Regulation E and the Nacha Operating Rules for your consumer accounts when there are unauthorized transactions.Regulation E contains an error resolution process for electronic payments posting to consumer’s accounts. Returning Unauthorized ACH transactions and the logistics when doing so will be covered in detail, including the addition of a repurposed Return Reason Code R11 and when to use R10 vs R11. Included in this session is an opportunity for attendees to apply the basics of Regulation E and the error resolution timeframes while comparing with ACH processes when returning unauthorized transactions. all while remaining compliant with the Nacha Operating Rules will be demonstrated as the trainer walks attendees through some real-life scenarios.
Agenda
- Timeframes for consumer when reporting errors to the financial institution
- Consumer liability and responsibility for unauthorized transactions
- Financial Institution liability and responsibility when handling errors to consumer accounts
- Identify what is covered by Regulation E and what is not covered
- List details on “What is an Error” in Reg E and the Nacha Operating Rules
- Define the Error Resolution Process including timeframes
- Outline the process when returning unauthorized transactions in the ACH network, including when to use R10 vs. R11 (due to recent Rules changes)
