Electronic Banking Compliance

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There are many existing regulations and other rules governing electronic payment systems with which financial institutions must comply. Undoubtedly there will be regulatory changes and additional guidance as more institutions and their customers adopt the new products and services offered to them by new electronic applications.

Besides ensuring compliance with specific laws and regulations pertinent to retail payment systems, financial institutions should ensure compliance with general consumer protection rules that distribute the responsibility and minimum procedural measures that must be fulfilled before shifting the responsibility to another party.

The regulators require financial institutions to comply with their statutory or regulatory obligations. They remind institutions that they must also comply with the bylaws and contractual agreements established with the bankcard associations, clearinghouses and other parties that participate in the processing, clearing, and settling of retail payment transactions. Most significantly, financial institutions and third-party service providers must comply with the appropriate bylaws and agreements of bankcard associations and clearinghouses or they risk being fined or losing their memberships.

Electronic Banking Compliance focuses on the regulations and other rules governing electronic payment systems with which financial institutions must comply. This comprehensive guide is designed to be your one reference source to current and additional guidance, as more institutions and their customers adopt the new products and services offered to them by the latest technologies. It covers the six discrete electronic services, processes or products to which the rules and regulations apply, including:

•  Internet Banking — Electronic Transactions, Information Privacy and Security, Loans and Deposits
•  ACH (Automated Clearing House Transactions)
•  Check 21 Act and Regulation CC
•  Remote Capture
•  Wire Transfers
•  Credit Cards

Subscribers will receive access to a downloadable file containing editable forms.
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