need RDFIs to waive stop re payment charges if the payment that the accountholder is wanting to stop is unauthorized.
make certain that banks are not consumers that are rejecting unauthorized payment claims without reason. Advise banks that a re re payment must certanly be reversed in the event that authorization that is purported invalid, and examine types of unauthorized re payment claims that have been refused by banking institutions need RDFIs to forego or reverse any overdraft or NSF fees incurred due to an unauthorized product (check or EFT), including as soon as the check or product directly overdraws the account and in addition whenever it depletes the account and causes a subsequent product to jump or overdraw the account.
need RDFIs allowing accountholders to close their account at any time for just about any explanation, no matter if deals are pending or the account is overdrawn. Provide guidance to RDFIs as to just how to cope with pending debits and credits if somebody asks to shut a merchant account, while needing RDFIs to reject any subsequent products after the individual has requested that her account be closed. Offer model types that RDFIs should offer to accountholders that have expected to shut their account to assist in recognition of other preauthorized payments which is why the consumer will have to revoke authorizations or that the buyer can re direct to an account that is new.
Prohibit RDFIs from charging you any NSF, overdraft or extended overdraft charges to a merchant account when the accountholder requests it be closed Provide model disclosures that fully notify accountholders of this above methods, and need RDFIs to totally train their workers from the above methods.