Bank Refused to Refund Your Fraud Claim? Here’s What You Should Know

Receiving a denial from your bank after a fraud dispute can be frustrating. But a denial is not necessarily the final word. Some consumers receive denials that may not comply with the requirements of the Electronic Fund Transfer Act (EFTA) and Regulation E — and those consumers may have legal options.

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Why Do Banks Deny Fraud Claims?

Banks may deny fraud disputes for a variety of reasons, including:

• A determination that the transaction was authorized by the account holder

• A finding that the report was submitted outside the required time window

• A conclusion that the transfer occurred through a third-party platform outside their direct responsibility

• Internal thresholds or procedures that may conflict with federal requirements

Some of these denials are legitimate. Others may not comply with the requirements of Regulation E. An attorney can help you evaluate whether the denial was proper.

What Federal Law Requires

Under Regulation E, when you report a qualifying unauthorized transaction, your bank generally must:

• Conduct a reasonable investigation consistent with Regulation E’s error-resolution procedures

• Provide provisional credit in applicable cases while the investigation is ongoing

• Complete the investigation within Regulation E’s established deadlines, which vary by circumstance

• Send a written explanation if they determine no error occurred

• Provide investigation records if you request them

Failure to follow these procedures may give rise to a legal claim, even in cases where the underlying dispute is contested.

Steps to Take After a Denial

Request a written explanation of the denial if you have not received one

Ask for the documents and records your bank relied on

File a complaint with the Consumer Financial Protection Bureau (CFPB)

Speak with an EFTA attorney to evaluate your options

We Can Help

Tariq Law PC represents New York consumers in EFTA disputes, including cases in the Southern District of New York and the Eastern District of New York. We have experience with how banks investigate — and where they fall short.

Call (866) 885-8529 for a free case review. Contingency fee representation may be available.

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Prior results do not guarantee a similar outcome. This website is for informational purposes only.

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