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Compliance with Regulation E and ACH Unauthorized Returns

Duration : 90 Minutes

Donna K. Olheiser,

Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years’ training experience. She has designed and facilitated over 100 training sessions each year with her exp Read more

As a financial institution, you have responsibilities and liabilities under Regulation E for your consumer accounts when there are unauthorized transactions. Regulation E contains an error resolution process for electronic payments posting to consumer’s accounts. Returning Unauthorized ACH transactions and the logistics when doing so will be covered in detail, including the addition of a repurposed Return Reason Code R11.

Included in this session is an opportunity for attendees to apply the basics of Regulation E and the error resolution timeframes and ACH processes when returning unauthorized transactions while remaining compliant with the Nacha Operating Rules will be demonstrated as the trainer walks attendees through some real-life scenarios.

Course Objectives:

In this 90-minute session, compliance with Reg E and the Nacha Operating Rules when returning transactions that are unauthorized. We will also discuss and define the limits of liability and who is liable for what amount while providing some real-life scenarios. Details on the error resolution process for consumer notification to the financial institution, research time involved, and the timing of providing provisional credit; included will be guidelines on the “what if” there is no error, and providing notice to the consumer, and any overdraft protection relating to that provisional credit being reversed. Discussion on returning unauthorized transactions in the ACH network and paperwork needed.  Recent Rules changes affecting Nacha compliance when using Return Reason Codes R10 vs. R11.

Course Outline:

• Timeframes for the consumer when reporting errors to the financial institution

• Consumer liability and responsibility for unauthorized transactions

• Financial Institution liability and responsibility when handling errors to consumer accounts

• Identify what is covered by Regulation E and what is not covered

• List details on “What is an Error”

• Define the Error Resolution Process including timeframes

• Outline the process when returning unauthorized transactions in the ACH network, including when to use R10 vs. R11 (due to recent Rules changes)

What You Get:

• Training Materials

•  Live Q&A Session with our Expert

•  Participation Certificate

•  Access to Signup Community (Optional)

•  Reward Points

Who Will Benefit:

• Bank operations staff

• New employees in the payments industry

• Bank managers and payment professionals

• CEO’s and CFO’s

• Risk, Compliance, and Audit personnel

• Aspiring AAP’s and current AAP’s 

Please reach us at 1-888-844-8963 for any further assistance or if you wish to register


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