Common Pitfalls in Reg E Compliance - Sarah Fernandez, Kaufman Rossin

In this podcast episode, Sarah Grotta and Sarah Fernandez discuss the critical importance of Regulation E (Reg E) in the banking and fintech sectors. They explore the challenges financial institutions face in compliance, the role of technology in dispute resolution, and best practices for managing partnerships with fintechs. The conversation also highlights common errors in Reg E compliance and emphasizes the need for consumer protection in dispute management. As new payment technologies emerge, the discussion underscores the importance of adapting compliance strategies to ensure consumer rights are upheld.

Takeaways

• Reg E is essential for consumer protection in banking.
• Financial institutions must understand compliance challenges.
• Technology can streamline dispute resolution processes.
• Onboarding fintech partners requires thorough due diligence.
• Reg E compliance is evolving with new payment technologies.
• Testing and documentation are crucial for compliance.
• Common errors include misunderstanding timing requirements.
• Consumer communication is key in dispute management.
• Financial institutions should monitor for potential fraud.
• Continuous improvement in compliance processes is necessary.

Kaufman Rossin