Under Regulation E a bank is required to research a customer’s dispute of an electronic transfer if, among other things, it was received within 60 days after a periodic statement that contained the error was sent. What obligation does the bank have if a dispute is received after those 60 days?
There is not a requirement to comply with the investigation portion or any other portion of 1005.11 after 60 days from the periodic statement since the Regulation state’s that the bank must comply if it’s no later than 60 days.
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