Regulation E establishes the guidelines for financial institutions to resolve debit card, ACH, ATM and the full range of disputes. Bank authorities hope to transform record-keeping from paper to digital. Our Regulation E compliance software can help you with dispute record production, submissions and storage.

Is Your Regulation E Compliance Stone Age

About 31.8 million U.S. consumers had their credit cards breached in 2014, more than three times the number affected in 2013,” according to the “Javelin Strategy & Research 2015 Data Breach Fraud Impact Report.” If a debit card owner suspects a fraudulent charge, he can contact his financial institution immediately to start a Reg E dispute.

While some might still be keeping their Regulation E disputes in a paper Microsoft Excel format, it might be wise to upgrade to an electronic format, using a debit card compliance software.

Electronic Record Production

Responding to a Regulation E dispute in real-time could be a challenge, if you are not well-organized. Our Financial Back Office Automation (FINBOA) debit card dispute tracking system helps organize your data entry process.

When you respond quickly, you will minimize the danger to your firm’s bottom line and reputation. You also will want to minimize the inconvenience to your customer, by canceling his old card and issuing him a new one. The entire banking industry suffers when fraud is not dealt with properly.

Digital Submissions

You will be required to make digital submissions to the banking regulators. Our FINBOA bank compliance software enables you to make clear, accurate and complex electronic letter submissions to the relevant parties.

The banking regulatory authorities will carefully sift through your electronic Regulation E submissions. They require you to remain in compliance, in order to hold onto your license. Any errors could be a “red flag,” potentially damaging your business reputation. And, it takes only one mistake to ruin a financial brand.

Easy-to-Find Storage

Some banks and credit unions might forget the last step: management, retention and storage of your Regulation E dispute records. We don’t. Our debit card compliance software allows you to search, sort and merge data for record-keeping purposes. Our bank regulation compliance can help you satisfy the law with fast, accurate digital submissions.

Remain in Compliance

Your reputation is on the line with Reg E disputes and proper bank regulation compliance will raise your prestige. Track fraudulent credit card transactions seamlessly. Request a free consultation to demo the features of our powerful FINBOA Regulation E compliance software.

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