Describes the different notification requirements when an unauthorized EFT does or does not involve an access device. Explores the extent of the customer’s liability depending on when the bank is notified of the error, and how to recognize and differentiate between an unauthorized transactions as opposed to one that is authorized and not eligible for Regulation E error resolution protections.
After completing this course, students will be able to:
• Describe an unauthorized transaction
• Explain a consumer’s responsibility when reporting an unauthorized transaction