During a EFT, if the institution determines that no error has occurred or that an error occurred in a manner or amount different than the alleged error, it:
A.
Must notify the consumer in writing of the date and amount of the debit to account and the fact that the institution will continue to honor checks and preauthorized transfers payable to third parties for seven business days
B.
Must promptly provide on request copies of documentation on which institution relied on to determined that no error occurred
C.
Must pay only items that the institution would have paid if the provisionally credited funds had not been debited
When an institution determines that no error has occurred during an Electronic Funds Transfer (EFT) or that an error occurred in a manner or amount different than alleged, it is required to promptly provide, upon request, copies of the documentation on which the institution relied to make that determination. This ensures transparency and allows the consumer to review the information used by the institution in its decision-making process. Option B accurately describes this requirement.
upvoted 1 times
...
Log in to ExamTopics
Sign in:
Community vote distribution
A (35%)
C (25%)
B (20%)
Other
Most Voted
A voting comment increases the vote count for the chosen answer by one.
Upvoting a comment with a selected answer will also increase the vote count towards that answer by one.
So if you see a comment that you already agree with, you can upvote it instead of posting a new comment.
Cam22
4 months ago