The OCC has determined that a national bank may not assume that, simply because a consumer's PIN or ATM card was used in a transaction, that transaction is authorized. Banks are required to take reasonable steps to determine whether the transaction was authorized. Such steps might include the bank's review of:
A. Documentation or written, signed statements provided by the consumer
B. Historical information on the customer's pattern of use (such as time, location, types of transactions, and so on)
C. Problems reported by regular customers regarding the access device or ATM
D. Legal reports
The OCC has determined that a national bank may not assume that, simply because a consumer's PIN or ATM card was used in
-
answerhappygod
- Site Admin
- Posts: 899604
- Joined: Mon Aug 02, 2021 8:13 am
The OCC has determined that a national bank may not assume that, simply because a consumer's PIN or ATM card was used in
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!