Unauthorized Card Transactions: Reg E, Reg Z, and Visa Rules

Have you ever run into a situation like this? A member is disputing a PIN-based debit card transaction. The member tells the credit union he wrote his PIN on the back of the card that was stolen. Does the credit union have to reimburse the member for this charge?

It can be very difficult and frustrating to determine member rights and credit union liability for unauthorized debit card and credit card transactions. Not only do the rules differ depending on if a debit card or a credit card is used, VISA has their own set of rules. It can get confusing in a hurry.

Take out the guesswork and join us on February 20 for our Second Compliance Essentials class where we will provide lot of guidance on card-based disputes, including:

• Reg E error resolution processes for debit card and ACH transactions
• Reg Z billing dispute process for credit card transactions
• VISA zero liability rules and chargeback requirements
• A comparative analysis of all three processes
• Required member notifications
• Recordkeeping
• CFPB Frequently Asked Questions regarding P2P payments
• Members being defrauded vs unauthorized transactions: who pays?

Date/Time

• Thursday February 20th, 2024
• 9:00 AM - 11:00 AM (Pacific) / 10:00 AM - 12:00 PM (Mountain)

Location:

• This meeting will be held online (Zoom links will be provided prior to meeting)
• A recording of this session will be made available online

Cost:

This class is FREE to all member credit unions of the California and Nevada Credit Union League and the Utah Credit Union Association