Calculating Liability Under Regulation E Error Resolutions

Date Recorded: December 4, 2023
Presenter: Natalie Straus, Director, Forvis Mazars, LLP

Calculating who is liable and for how much can be a challenge when it comes to Regulation E’s unauthorized transactions. This three-hour webinar will highlight the rule, the CFPB’s FAQs, the impact of peer-to-peer transactions (i.e., Venmo, Zelle), and real-life examples to demonstrate the application of Tier-1, -2 and -3 consumer liability.

Regulation E’s procedures for resolving errors and calculating liability for unauthorized transactions are daunting. When is the consumer liable? What if they are negligent?  What if the error occurred a year ago? What if they are only claiming recent transactions but your investigation reflects a longer period?  What if the money is taken via a peer-to-peer transaction using Venmo or Zelle?

The Calculating Liability under Regulation E webinar will answer these questions and more, leveraging real-life examples so that you can make sense of calculating consumer liability.

During the Calculating Liability under Regulation E webinar we will cover:

• What is an error vs. unauthorized transaction
• What is an access device
• Are peer-to-peer transactions subject to Regulation E
• What if the consumer is negligent
• What should be in your Regulation E policy/procedures/practices to mitigate your institution’s losses
• Prohibited practices
• CFPB FAQs
• How to calculate Tier-1, -2 and -3 consumer liability