Every institution has their Regulation E error resolution rocket scientists. These people know exactly what to do when a dispute comes in and they handle it appropriately. It’s easy to assume that only the rocket scientists need training on Regulation E but that is far from the truth. At a minimum, everyone in your institution that talks to consumers, needs to know generally what an EFT error is and what to do if someone reports one. Remember that an institution is required to investigate promptly upon receipt of an oral or written notice of error. Once it’s reported, you are on the clock, and it is very important that it gets funneled to the appropriate personnel.
Jerod explains more in the video.
2025/03/17