Handling Consumer ACH Disputes: Advanced ACH Sticky Situations

01:00 PM ET | 10:00 AM PT | 12:00 PM CT Duration 90 Minutes

This will be a very comprehensive discussion regarding AML and the interpretation of model validation

"Hear From Craig Taggart has almost a decade of experience in the fields of Mergers & Acquisitions and Business Financing . He has been an expert GRC speaker, consultant"

Handling Consumer ACH Disputes

Description

According to the Office of the Comptroller of the Currency (OCC), “banking organizations should conduct a periodic review-at least annually but more frequently if warranted-of each model to determine it is working as intended and if the existing activities are sufficient.” This has become known in the industry as a model validation, system validation, independent verification and validation (IVV), or just validation. The challenge we’ve seen is interpreting this – what is a model, which models, what a “review” should include, etc.
As such we’ve seen a number of organizations conduct one, either internally or independently, often missing elements to the model that couldn’t possibly validate an institution’s model without them. Further, pushing regulators to require that institutions repeat their model validation.

Why Should You Attend:

Financial institution retail centers and call centers often face handling consumer disputes of ACH debits on their account; many situations aren’t covered in the ACH Rules book guidelines nor is there any clear direction from other resources.

This webinar will focus on the most common disputes, provide attendees with a basic understanding of what is required to maintain compliance, as well as discuss tips on handling these issues. The course will conclude with some real life scenarios where attendees try their hand at solving the issue, while balancing compliance obligations with customer service.

Areas Covered

•        Introduction
•        Where Regulation E doesn’t align with the ACH Rules
•        Who each is written for
•        Regulation E “Notice” requirements vs. ACH Rules return requirements
•        What to do when a customer/member won’t complete a WSUD
•        State laws
•        60 day in-network returns vs. state statute of limitations
•        State consumer protection laws
•        Stop Payments – before and after the payment posts
•        Revoked Authorization
•        Unauthorized
•        Consumer account
•        With consumer SEC
•        With business SEC
•        Business account
•        With consumer SEC
•        With business SEC
•        What to do when a customer/member won’t complete a WSUD as required by the ACH Returns
•        In-network vs. out-of-network returns
•        Documenting claims
•        Sticky situation case studies
•        Statements and actions that increase an institutions liability
•        Documenting & reporting claims
•        True / False Scenarios

Learning Objectives:

•        Review common consumer sticky situations when handling ACH disputes
•        Document your institution’s obligations and rights
•        Realize how what you say can impact the situation (often negatively)
•        Decide the appropriate course of action in given situations.

Who will Benefit

•        Frontline/Customer Service Personnel
•        Internal Auditors
•        Risk Officers
•        Director of Security
•        Compliance Professionals
•        Operational Risk Professionals
•        Audit Committee Members
•        Operational Risk Managers
•        Fraud Investigators
•        Trainers
•        Branch Managers

Industries who can attend

•        Frontline/Customer Service Personnel
•        Internal Auditors
•        Risk Officers
•        Director of Security
•        Compliance Professionals
•        Operational Risk Professionals
•        Audit Committee Members
•        Operational Risk Managers
•        Fraud Investigators
•        Trainers
•        Branch Managers


Speaker Profile

Craig Taggart

Craig Taggart has almost a decade of experience in the fields of Mergers & Acquisitions and Business Financing. He has been an expert GRC speaker, consultant, and instructor for over 4 years. Craig has spoken on a very broad range of topics in both seminar and webinar formats. He has been happy to grow his business practice and benefit many professionals around the country.He brings many valuable skills from the finance world into commercial real estate. Craig works with each client at the highest level to achieve the highest value for their business. His experience in the M&A Industry has greatly contributed to his understanding of transaction structure, strategic placement of buyers, and the attainment of maximum market value for his clients. He has represented and sold many businesses in a number of different industries and has significant experience working with companies in: real estate, clean energy, and healthcare. Craig is currently working with institutional investors, family offices and their investment criteria for large commercial real estate development opportunities around the country with the following asset classes: hospitality, office, industrial, retail, multi-family, land, healthcare & non-performing notes. As an associate, Craig will work to help his clients receive the greatest return on investment.

Craig is a Certified Merger & Acquisition Advisor, Accredited Valuation Analyst as well as an active member of Alliance of Mergers and Acquisition, and The National Association of Certified Valuators and Analysts (NACVA).

 

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