Apply Regulation E's extended error-resolution timelines for electronic fund transfers into or out of a new account under 12 CFR 1005.11(c)(3)

Steps

1. Determine whether the disputed EFT occurred within 30 days after the first deposit to the account was made; if so, the account qualifies for the extended timelines in 1005.11(c)(3)(i)
2. Extend the initial investigation period from 10 business days to 20 business days for new accounts
3. Extend the provisional-credit investigation period from 45 days to 90 days when the error involves a transfer not initiated within a state, a point-of-sale debit card transaction, or a transfer occurring within 30 days of the first deposit
4. Still provisionally credit the consumer's account within the applicable business-day window (10 or 20 days) if using the extended investigation period, informing the consumer within two business days and giving full use of the funds during the investigation
5. Cap any withheld provisional credit at $50, and only if the institution has a reasonable basis for believing the transfer was unauthorized and has met the section 1005.6(a) requirements
6. Report investigation results to the consumer within three business days of completing the investigation and correct any confirmed error within one business day