EFT Disputes & Card Loss or Theft

Loss or theft of an access device includes both the card being physically stolen or just the information from the card. Thus, financial institutions need to be aware that unauthorized transactions can still occur while a card is in a consumer’s possession. For example, if a scammer skims a customer’s card information and they use it to make unauthorized purchases, it would be covered by Regulation E, even if the customer still has their card. With the advancement of chip technology, card fraud risk has been significantly reduced but it’s not fool proof. “Shimming” is a new fraud method that steals data from the EMV chip, rather than the magnetic strip, and is often used to create counterfeit cards.

David explains more in the video.

 Deposit Operations Training

Published 2026/03/30

David Dickinson

David’s banking career began as a field examiner for the FDIC in 1990. He later became a Compliance Officer and Loan Officer for a small bank. In 1993, he established Banker’s Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker’s Compliance Consulting produces.

He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the American Bankers Association National Compliance Schools and has served on the faculty of the Center for Financial Training for many years. He also is a frequent speaker at the ABA’s Regulatory Compliance Conference. He is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.

David and his wife Karen have three adult children, four grandchildren (none of whom live at home!) and two cats (of which Dave is allergic … the cats, not the children!). They recently moved to an acreage outside of Lincoln, Nebraska where he gets to play with his tractor. When possible David can be found fishing, making sawdust in his shop, or playing the guitar and piano. He also enjoys leading worship at his church.

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