Debit cards are an access device frequently swiped, tapped, or manually entered by our customers. But with their use comes regulatory requirements and fraud that we must have solid policies and procedures to address.
Join us as we discuss the critical aspects related to managing debit cards, including card issuance requirements, disclosure content and timing, and of course the Regulation E error resolution process. In addition, we will explain requirements when an address change is requested in close proximity to a card request, considerations on how to address limit increase requests, card closures, and instant issue controls.
Lastly, we will share best practices to prevent and educate consumers and staff on fraud prevention techniques. It is critical that your institution implements internal procedures and controls for this access device and you have a thorough knowledge of the regulations that govern debit cards.
What You’ll Learn
- Understand regulatory requirements for issuing a debit card
- Identify Regulation E disclosure requirements specific to debit cards
- Explain debit card error resolution and consumer liability for unauthorized transactions requirements as defined by Regulation E
- Apply instant issue debit card controls
- Respond to card requests in close proximity to address changes
- Diagram ATM and one-time debit card transactions for settlement practices
- Examine the process utilized for debit card limit changes
- Inspect fees for potential unfair or deceptive acts or practices
- Communicate tips to prevent debit card fraud to customers and staff
- Numerous debit card-related tools will be shared with participants
Who Should Attend
This informatory session is designed for anyone involved in issuing or servicing debit cards, including deposit operations, electronic banking, auditors, compliance officers, branch managers, and client-facing teams.