Need some legal advice

Air Langhi · Jun 9, 2009

SpiffyRifi said:

on a side note - you should file a police report. If the police actually follow up on the case they can get atm video/photos.
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Believe it or not the police are only good for hassling you. If you file an investigation they don't look at it even though they say they will.

Air Langhi · Jun 9, 2009

Mulder said:

In another forum, link

Banking Compliance guys said:

Whether or not your "dispute rep" (whoever that may be) denies the claim or not, the bank has to make the customer whole under Regulation E unless you can prove that the transactions "were" authorized by the customer. Banks have to realize that these issues are part of the cost of doing business if you choose to issue debit cards.

This has to be the biggest area of confusion for bankers (Yes, more than HMDA and Reg CC!). There are many ways to steal money out of your account without having your card &/or PIN. You must investigate all claims. Unless you can prove the customer made the transaction, you must provide restitution to the consumer. If you can prosecute someone in the process, go for it. If not, it's a cost of doing business.

Regulation E See http://www.bankersonline.com/regs/205/205.html

Sec. 205.6 Liability of consumer for unauthorized transfers.

a) Conditions for liability. A consumer may be held liable, within the limitations described in paragraph (b) of this section, for an unauthorized electronic fund transfer involving the consumer's account only if the financial institution has provided the disclosures required by Sec. 205.7(b)(1), (2), and (3). If the unauthorized transfer involved an access device, it must be an accepted access device and the financial institution must have provided a means to identify the consumer to whom it was issued.

(b) Limitations on amount of liability. A consumer's liability for an unauthorized electronic fund transfer or a series of related unauthorized transfers shall be determined as follows:
(1) Timely notice given. If the consumer notifies the financial institution within two business days after learning of the loss or theft of the access device, the consumer's liability shall not exceed the lesser of $50 or the amount of unauthorized transfers that occur before notice to the financial institution.
(2) Timely notice not given. If the consumer fails to notify the financial institution within two business days after learning of the loss or theft of the access device, the consumer's liability shall not exceed the lesser of $500 or the sum of:
(i) $50 or the amount of unauthorized transfers that occur within the two business days, whichever is less; and
(ii) The amount of unauthorized transfers that occur after the close of two business days and before notice to the institution, provided the institution establishes that these transfers would not have occurred had the consumer notified the institution within that two-day period.
(3) Periodic statement; timely notice not given. A consumer must report an unauthorized electronic fund transfer that appears on a periodic statement within 60 days of the financial institution's transmittal of the statement to avoid liability for subsequent transfers. If the consumer fails to do so, the consumer's liability shall not exceed the amount of the unauthorized transfers that occur after the close of the 60 days and before notice to the institution, and that the institution establishes would not have occurred had the consumer notified the institution within the 60-day period. When an access device is involved in the unauthorized transfer, the consumer may be liable for other amounts set forth in paragraphs (b)(1) or (b)(2) of this section, as applicable.
(4) Extension of time limits. If the consumer's delay in notifying the financial institution was due to extenuating circumstances, the institution shall extend the times specified above to a reasonable period.
(5) Notice to financial institution. (i) Notice to a financial institution is given when a consumer takes steps reasonably necessary to provide the institution with the pertinent information, whether or not a particular employee or agent of the institution actually receives the information.
(ii) The consumer may notify the institution in person, by telephone, or in writing.
(iii) Written notice is considered given at the time the consumer mails the notice or delivers it for transmission to the institution by any other usual means. Notice may be considered constructively given when the institution becomes aware of circumstances leading to the reasonable belief that an unauthorized transfer to or from the consumer's account has been or may be made.
(6) Liability under state law or agreement. If state law or an agreement between the consumer and the financial institution imposes less liability than is provided by this section, the consumer's liability shall not exceed the amount imposed under the state law or agreement.

Note: This thread does not constitute legal advice but merely a cursory internet search based on what I see as a hypothetical inquiry. No attorney client relationship has been established between the OP and myself by this post and none should be construed.
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I know about regulation E, trying to get it executed is the hard part.

Mr. Brightside · Jun 9, 2009

Not all ATM machines have video cameras next to them. Look at some of the ATM machines like in bars and pubs and places like that. They are franchise owned machines that aren't under any security surveillance.

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Need some legal advice

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