The Reg on the street is…
Ask for the business, but don’t push too hard or beg, because if you do then you’ll violate this reg
Submit Credit Card Application (PL4-8173)
Sales Practices
Did the MSR push a product or service on the member that was unwanted or not in line with the member's request/inquiry/need?
When the son of the deposed King of Nigeria emailed me directly, asking for help, through buying calling cards, I HAD to help! I did not know it was a pyramid scheme
No! No, the fraud dispute process is not relevant
Non-Fraud Dispute Request Receipt-Inquiry (PL4-8840)
Regulation Z
REWARDS. REWARDS EVERYWHERE. ON EVERTHING. ALL THE TIME. AND POINTS
Yes! There is no USAA card that provides these features.
UDAAP
Did the MSR fail to provide the accurate information when discussing Rewards with a member?
The charges, they’re pending, and the list keeps extending. The charges weren’t mine and it wasn’t me that signed! No claim was filed, this is just too wild
Operational-
Receive Credit Card Fraud Claim or Inquiry (PL4-8876)
Operational Risk - Receive Credit Card Fraud Claim or Inquiry
Did the MSR fail to handle the claim accurately?
Too old, too young, or the assistance is too high, this reg states, NO MATTER WHAT, they must be allowed to apply
Receive Credit Limit Adjustment Inquiry (PL4-8945)
Regulation B
Did the MSR make an explicit or implicit statement that may discourage an applicant/member from pursuing a product or service?
The charge looks suspicious, but maybe not. Just give me the DEETS and I’ll investigate
No, the fraud dispute process is not relevant
Um, they left out the part where they told me the rates.
This is not a UDAAP error.
Regulation Z
Open End Credit: Did the MSR fail to accurately provide the Annual Percentage Rate (APR), when required?
They just said the charge was over 25, instead it half that size! What a delightful surprise!
This is an operational error
Operational - Compliance Risk
Did the MSR fail to take appropriate action when discussing fees?
Member: HELP! There are 72 transactions that tried to go through on my card! AND IT WASN’T ME
Inbound Lost or Stolen Card Notification (PL4-8239)
FCRA
Did the MSR fail to take appropriate action to safeguard the account/access device?
Who swiped the card, nobody knows. They successfully charged but right now I can’t close, you know how that goes. I’ll call back later, when I have time; Let’s hope that it does not slip my mind!
Yes, the fraud claim process is relevant
Receive Credit Card Fraud Claim or Inquiry (PL4-8876)
Regulation Z
True or False:
The fee was stated, just a dollar above, therefore UDAAP gets the love
TRUE!
UDAAP
Did the MSR fail to provide the current Fee amount and information when discussing Fees that may be and/or have been billed to the account with a member?
I live in Florida and I was waiting to hear it, I didn’t get my state specific disclosure!
There is no state specific disclosure for Florida. This is not an error
When asked the APR, they said something random, it was 12% too high and we were speaking in tandem.
Application (PL3-1440)
Submit Credit Card Application (PL4-8173)
Regulation Z
Open End Credit: Did the MSR fail to accurately provide the Annual Percentage Rate (APR), when required?
Hear me out, I know this is the third scam I've fallen for in three weeks, but they're so convincing! I just keep telling them they can charge! You know the drill, get me a new card please!
No, the fraud dispute process is not relevant.
Inbound Lost or Stolen Card Notification and possibly Non-Fraud Dispute Request Receipt-Inquiry
Open End Credit: Did the MSR issue a credit card without the member's consent?
NO! This is a Reg Z error
I asked for an increase but instead, they brought it down! My purchases won’t go through because my I only have 2.00 available in my credit line. WHO’S GETTING THE ERROR?
This error is operational
Operational Risk - Credit Limit Adjustment Receipt
Did the MSR fail to handle the Credit Limit Adjustment request accurately?
Dude, where’s my card? I think it’s in the house, probably in the couch. But it might be in the car. I’ll check later. For now, just send me another of the same.
Inbound Lost or Stolen Card Notification (PL4-8239)
FCRA
Did the MSR fail to take appropriate action to safeguard the account/access device?
I see ten charges pending on my account and I disputed three posted yesterday and I want to file a dispute on these new ones RIGHT NOW.
Yes, it is relevant,
Operational Risk - Receive Credit Card Fraud Claim or Inquiry
Did the MSR fail to handle the claim accurately?
I honestly didn’t think anything was wrong. He told me I was just declined for a card, and he's right! Logically it didn’t make sense to take another hit to my credit an apply for another one. If anything, he saved me from harm! Thanks BRO! (UDAAP)
This is a UDAAP error
UDAAP
Did the MSR discourage the member from completing a new account application?
If the card was found by a random man, under what regulation should this error land?
This is no longer an error