P2P Error Resolution under Reg E


Presented by:
Andy Zavoina

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"Hey banker, what's up?" No, that isn't intended to be a cordial greeting. But an invitation to join me, Andy Zavoina, for a one-hour webinar to discuss just P2P Reg E payment claims. Because what's up is fraud attempts and therefore losses. It was reported that P2P fraud attempts were up in 2021 by 41%. Other fraud and online losses are rising as well and this is the subject of this webinar. Increased claims are a clear indication that the losses from Reg E claims are up as well.

I started my day with an email from a CPA firm about a client, a PayPal pet purchase, and a Reg E claim. You already know where this is going and if you've been there, you may also want to be at this webinar. In this case PayPal said it wasn't a valid account that was paid and the customer needed to go to their bank for a "refund." I use the term refund, but that seems to indicate the bank got the money and will give it back to the customer who isn't satisfied with their purchase. The problem is, the bank didn't get any money, it executed the requested transfer for the customer. There was no pet and the customer wants there money back. Where do they get it? In this case the bank paid a provisional credit. Should it have?

We'll examine when provisional credit is required, and when the bank has to investigate and pay claims like this. Depending on the way the fraud happened the bank may be suffer the loss. It may be that the P2P vendor suffers the loss or that the customer does. What's the difference in circumstances - join me to find out.

This webinar assumes you have a basic understanding of Reg E claims requirements. Only the EFTA )law) and Reg E aspects will be discussed and not individual rules promoted by various vendors.

About the Speaker: Mr. Andy Zavoina, CRCM, is an Executive Vice President and Chief Relationship Officer with the Glia Group, Inc., best known for its interest in BankersOnline.com. He joined Glia and BOL in 2003.

Mr. Zavoina has been in finance and banking for 35 years. Over 20 years were with a two-bank holding company which had $534 million in assets, 89 branches spanning Texas and nearly 500 ATMs. He managed loan workouts, has been a consumer, commercial and real estate lender, managing those departments, as well as being his banks first Webmaster. He was responsible for compliance -management, -auditing, and -training for both banks.

Andy is a frequent webinar presenter for BOL Learning Connect and a key contributor to conferences put on by BOL Conferences, Inc. In addition, Andy teaches live presentations at state association schools and regional compliance organizations across the U.S. and has served on the faculty of national banking schools. He has written articles and lectured on many facets of compliance, the use of the internet and technology as a tool, as well as compliance in cyberspace.

As a BankersOnline Guru, Andy assists banks in everyday, and not so everyday, compliance questions on BankersOnline, BankCompliance.com and other organizations.

Mr. Zavoina is a recipient of the American Bankers Association's Distinguished Service Award for his involvement and accomplishments in the field of regulatory compliance management. He is a past Chairman of the ABA's Compliance Executive Committee, the Editorial Advisory Board for the ABA Compliance Magazine and served as a member of the ABA's Compliance School Board. He also served on the Texas Bankers Association's Compliance Committee.

He is a graduate of the ABA National Commercial Lending School, National Compliance and National Graduate Compliance School and is a Certified Regulatory Compliance Manager with the Institute of Certified Bankers.

You can reach Andy on the Internet by using his e-mail address, andyz@bankersonline.com, or visiting http://www.bankersonline.com.

This program was recorded in its entirety in July 2022. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_p2p0722
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Tuesday 31 May, 2022.

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