Regulation E Software

Regulation E (Reg E) protects consumers who use EFTs, including granting them the right to file error claims that must be investigated and resolved within certain time frames.

For years, a financial institution’s only option of complying with Reg E was to use a manual process for handling errors. Whether internal forms or excel spreadsheets were utilized, handling the claims and tracking the process has been tricky. Back end costs include:

• A slowdown in work processes
• Miscalculation of customer’s liability
• Potential penalties for violating requirements of Reg E

WatchDOG® for Reg E:

• Provides greater assurance claim processing adheres to regulatory requirements
• Assists employees in obtaining critical information for determining an actual error or customer liability
• Significantly reduces training
• Significantly reduces paper-based documentation
• Eliminates the need to reimburse the full transaction amount by preventing overpayment
• Ensures the customer receives full reimbursement as required by the law preventing underpayment
• Provides tracking of all applicable timeframes allowing completion of a more thorough investigation

Minimize losses and ensure Reg E compliance with WatchDOG® for Reg E.